Corvette Prices. Following are the age and price data for Corvettes from Exercise 15.23.

x 6662254514 y 290 280 295 425 384 315 355 328 425 325

a. Obtain a point estimate for the mean price of all 4-year-old Corvettes.

b. Determine a 90% confidence interval for the mean price of all 4-year-old Corvettes.

c. Find the predicted price of a 4-year-old Corvette.

d. Determine a 90% prediction interval for the price of a 4-year-old Corvette.

e. Draw graphs similar to those in Fig. 15.11 on page 705, showing both the 90% confidence interval from part

(b) and the 90% prediction interval from part (d).

f. Why is the prediction interval wider than the confidence interval?