Age and Price of Orions. Refer to the data on age and price of a sample of
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Age and Price of Orions. Refer to the data on age and price of a sample of 11 Orions given in Table 15.4 on page 701.
a. For each age between 2 and 7 years, obtain a 95% confidence interval for the mean price of all Orions of that age. Plot the confidence intervals against age and discuss your results.
b. Determine the margin of error for each confidence interval that you obtained in part (a). Plot the margins of error against age and discuss your results.
c. Repeat parts
(a) and
(b) for prediction intervals.
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