What happens to the width of a prediction interval for y as the x value on which the interval estimate is based gets farther away from the mean of x? Why?
Answer to relevant QuestionsWhat assumptions are required in using the linear regression model? For the data in Exercise 15.9, find the standard error of estimate, then construct the 95% prediction interval for the amount of stock owned by an individual employee who has been with the firm for 5 years. In exercise x = ...The values of y and x are inversely related, and 64% of the variation in y is explained by the regression equation. What is the coefficient of correlation? For each of 10 popular prescription drugs, file XR15042 lists the retail price (in U.S. dollars) for the drug in several different countries, including the United States, Canada, Great Britain, and Australia. Determine and ...A computer analysis of 30 pairs of observations results in the least-squares regression equation ŷ = 14.0 + 5.0x, and the standard deviation of the slope is listed as sb1 = 2.25. a. At the 0.05 level of significance, can we ...
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