hw16 - Question #1 It has been computed that the 95%...

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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 narrower wider cannot be determined based on the provided information. 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 for a student who spent 10 hours on average per week studying for the class will be of the same width narrower wider cannot be determined based on the provided information. You received a raw score of 100% on this question. Question #3 Now do the examples described in slides 57 and 58 (page 91) 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 [ 13968.61756 = 13968.61756 , 15179.67638 = 15179.67638 ]. Now the dealer wants to bid on a lot of Ford Tauri, where each car has been driven
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40,000 miles. The 95% confidence interval is [ 14503.76183 = 14503.76183 , 14644.53212 = 14644.53212 ]. Item 1: Your answer is within ±0.1% of the solution - correct. Item 2: Your answer is within ±0.1% of the solution - correct. Item 3: Your answer is within ±0.1% of the solution - correct. Item 4: Your answer is within ±0.1% of the solution - correct. You received a raw score of 100% on this question. Question #4 Now do the examples described in slides 59 and 60 (page 91) of the course packet. First run a regression and then calculate the predicted value, y-hat, for x=35, and then make the prediction interval and the confidence interval. The data is provided here . The LOWER BOUND of the prediction interval is 285.895 = 285.895 and the UPPER BOUND of the confidence interval is 388.797 = 388.797 . Item 1: Your answer is within ±0.1% of the solution - correct.
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This note was uploaded on 07/23/2010 for the course ECON 203 taught by Professor Petry during the Spring '08 term at University of Illinois at Urbana–Champaign.

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hw16 - Question #1 It has been computed that the 95%...

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