Unformatted text preview: Compute the predicted cost of operation for each market based on the model equation. g. Plot a band of 95% confidence intervals for the expected cost of operation of all markets. How many observed cost values are in the intervals? h. Plot a band of 95% prediction intervals for the cost of operation of individual markets. How many observed cost values are in the intervals? i. Fit a multiple linear regression equation relating COST to CATTLE and CALVES. Write the prediction equation. Are CATTLE and CALVES apparently collinear? j. How did your estimate of the cost per head of CATTLE change in this model? Why? k. How did the standard error of your estimate of cost per head of CATTLE change? Why? l. What is the interpretation of the regression coefficient for CATTLE in this model? m. Construct a 95% confidence interval for the cost per head of cattle. n. Select a regression model to relate COST to the set of variables CATTLE, CALVES, HOGS, and SHEEP....
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- Fall '08
- Regression Analysis, Prediction interval, linear regression equation, Homework Assn