In Problem 13.5 on page 531, you used the summated rating of a restaurant to predict the

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In Problem 13.5 on page 531, 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 = 9.5505 and ht = 0.026844 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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Basic Business Statistics Concepts And Applications

ISBN: 9780132168380

12th Edition

Authors: Mark L. Berenson, David M. Levine, Timothy C. Krehbiel

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