In exercise 8, data on x  temperature rating (Fo) and y = price ($) for 11 sleeping bags manufactured by Bergans of Norway provided the estimated regression equation y = 359.2668 – 5.2772x. For these data s = 37.9372.
a. Develop a point estimate of the price for a sleeping bag with a temperature rating of 30.
b. Develop a 95% confidence interval for the mean overall temperature rating for all sleeping bags with a temperature rating of 30.
c. Suppose that Bergans developed a new model with a temperature rating of 30. Develop a 95% prediction interval for the price of this new model.
d. Discuss the differences in your answers to parts (b) and (c).

  • CreatedSeptember 20, 2015
  • Files Included
Post your question