In Problem 12.5 on page 424, you used the summated rating of a restaurant to predict the

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In Problem 12.5 on page 424, you used the summated rating of a restaurant to predict the cost of a meal. The data are stored in Restaurants . For these data, SYX = 9.094 and hi = 0.046319 when X = 50.
a. Construct a 95% confidence interval estimate of the mean cost of a meal for restaurants that have a summated rating of 50.
b. Construct a 95% prediction interval of the cost of a meal for an individual restaurant that has a summated rating of 50.
c. Explain the difference in the results in (a) and (b).
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Business Statistics A First Course

ISBN: 9780321979018

7th Edition

Authors: David M. Levine, Kathryn A. Szabat, David F. Stephan

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