# Question: The data from Exercise for lot size in acres and

The data from Exercise for lot size (in acres) and assessed value (in thousands of dollars) of a sample of homes in a particular area are on the WeissStats CD. Specified value of the predictor variable: 2.5 acres.

Use the technology of your choice to do the following tasks.

a. Decide whether you can reasonably apply the conditional mean and predicted value t-interval procedures to the data. If so, then also do parts (b)–(f).

b. Determine and interpret a point estimate for the conditional mean of the response variable corresponding to the specified value of the predictor variable.

c. Find and interpret a 95% confidence interval for the conditional mean of the response variable corresponding to the specified value of the predictor variable.

d. Determine and interpret the predicted value of the response variable corresponding to the specified value of the predictor variable.

e. Find and interpret a 95% prediction interval for the value of the response variable corresponding to the specified value of the predictor variable.

f. Compare and discuss the differences between the confidence interval that you obtained in part (c) and the prediction interval that you obtained in part (e).

Use the technology of your choice to do the following tasks.

a. Decide whether you can reasonably apply the conditional mean and predicted value t-interval procedures to the data. If so, then also do parts (b)–(f).

b. Determine and interpret a point estimate for the conditional mean of the response variable corresponding to the specified value of the predictor variable.

c. Find and interpret a 95% confidence interval for the conditional mean of the response variable corresponding to the specified value of the predictor variable.

d. Determine and interpret the predicted value of the response variable corresponding to the specified value of the predictor variable.

e. Find and interpret a 95% prediction interval for the value of the response variable corresponding to the specified value of the predictor variable.

f. Compare and discuss the differences between the confidence interval that you obtained in part (c) and the prediction interval that you obtained in part (e).

**View Solution:**## Answer to relevant Questions

In the paper "Cardiac Resynchronization Therapy with or without an Implantable Defibrillator in Advanced Chronic Heart Failure" (New England Journal of Medicine, Vol. 350, pp. 2140-2150), M. Bristow et al. reported the ...Which graph used in a residual analysis provides roughly the same information as a scatterplot? What advantages does it have over a scatterplot? Refer to the data on age and price of a sample of 11 Orions given in Table 14.4 a. For each age between 2 and 7 years, obtain a 95% confidence interval for the mean price of all Orions of that age. Plot the confidence ...Refer to Problems 11 and 12. a. At the 5% significance level, do the data provide sufficient evidence to conclude that student-to-faculty ratio is useful as a predictor of graduation rate? b. Determine a 95% confidence ...Recall from Chapter 1 (refer to page 30) that the Focus database and Focus sample contain information on the undergraduate students at the University of Wisconsin - Eau Claire (UWEC). Now would be a good time for you to ...Post your question