Question: In Problem 12 8 on page 424 you predicted the value

In Problem 12.8 on page 424, you predicted the value of a baseball franchise, based on current revenue. The data are stored in BBValues.
a. Construct a 95% confidence interval estimate of the mean value of all baseball franchises that generate $ 250 million of annual revenue.
b. Construct a 95% prediction interval of the value of an individual baseball franchise that generates $ 250 million of annual revenue.
c. Explain the difference in the results in (a) and (b).

  • CreatedJuly 16, 2015
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