Refer to the data given in Exercise 13.98 on the living area (in square feet) and price (in thousands of dollars) of 10 randomly selected houses listed for sale in a city. Construct a 98% confidence interval for the mean price of all houses with living areas of 2400 square feet. Construct a 98% prediction interval for the price of a randomly selected house with a living area of 2400 square feet.
Answer to relevant QuestionsConsider the data given in the following table. a. Find the least squares regression line and the linear correlation coefficient r. b. Suppose that each value of y given in the table is increased by 5 and the x values remain ...Consider the formulas for calculating a prediction interval for a new (specific) value of y. For each of the changes mentioned in parts a through c below, state the effect on the width of the confidence interval (increase, ...A population data set produced the following information. N = 250, ∑x = 9880, ∑y = 1456, ∑xy = 85,080, ∑x2 = 485,870 Find the population regression line. An auto manufacturing company wanted to investigate how the price of one of its car models depreciates with age. The research department at the company took a sample of eight cars of this model and collected the following ...The following information is obtained from a sample data set. N = 10, ∑x = 100, ∑y = 220, ∑xy = 3680, ∑x2 = 396, and ∑y2 = 25,272 Find the values of se and r2.
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