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Graded Homework 17
Course: ECON 203, Fall 2008School: UIllinois
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Homework Graded 17 You have submitted this Homework 1 time (including this time). You may submit this Homework a total of 40 times and receive full credit. This homework will be due October 28 at 3am. This homework contains prediction/confidence interval questions and material pertaining to (violations of) assumptions about the error term, material that can be found on pages 75-79 in your course packet. Note:...
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Homework Graded 17
You have submitted this Homework 1 time (including this time). You may submit this Homework a total of 40 times and receive full credit. This homework will be due October 28 at 3am. This homework contains prediction/confidence interval questions and material pertaining to (violations of) assumptions about the error term, material that can be found on pages 75-79 in your course packet. Note: there is an equivalent version of the prediction and confidence interval formulas on your formula sheet compared to the reader page 78 and 79 you may find more helpful on a few of the problems.
Question #1
It has been computed that the 95% confidence interval is [144.4, 154.2] for the average exam score when a student spent 10 hours on average per week studying for the class. The 90% prediction interval for a student who spent 10 hours on average per week studying for the class will be
wider cannot be determined based on the provided information. narrower of the same width
You received a raw score of 100% on this question.
Question #2
It has been computed that the 95% confidence interval is [144.4, 154.2] for the average exam score when a student spent 10 hours on average per week studying for the class. The 99% prediction interval a for student who spent 10 hours on average per week studying for the class will be
narrower cannot be determined based on the provided information. of the same width wider
You received a raw score of 100% on this question.
Question #3
Now do the examples described on page 79 (slides 57 and 58) of the course packet. Notice, however, that here you are given actual data and the results will differ than those in your course packet. The necessary data is here. You are asked to provide an interval estimate for the bidding price on a Ford Taurus with 40,000 miles on the odometer. The 95% prediction interval for the price of a single car with 40,000 miles is [ 13968.91569 , 15179.37825 ]. Now the dealer wants to bid on a lot of Ford Tauri, where each car has been driven 40,000 miles. The 95% confidence interval is [ 14506.37451 , 14641.91943 ].
Item 1: Your answer is within 0.1% of the solutio ncorrect. Item 2: Your answer is within 0.1% of the solutio ncorrect. Item 3: Your answer is within 0.1% of the solutio ncorrect. Item 4: Your answer is within 0.1% of the solutio ncorrect.
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