Question

Using the data in the accompanying table estimate the model: Salary = β0 + β1Education + , where Salary is measured in $1,000s and Education refers to years of higher education.


a. Construct the 90% confidence interval for the expected salary for an individual who completed 6 years of higher education.
b. Construct the 90% prediction interval for salary for an individual who completed 6 years of higher education.
c. Comment on the difference in the widths of theseintervals.


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  • CreatedJanuary 28, 2015
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