Why are regression prediction intervals wider than confidence intervals?
Answer to relevant QuestionsA large company has developed a written test to screen applicants, and the mark on this test has been a good predictor of employee suitability for the graduates that are hired. Because administering the test is ...Why is it not recommended to make predictions outside the range of the sample data on which the regression relationship is based? Check the Excel output for the models created in Exercises 6, 7, and 8 above for outliers. If you had access to the original records for this data set, what would you do? Use the salaries model based on years of postsecondary education and age to make a 95% prediction interval estimate of the salary of an individual who is 35 years old and has five years of postsecondary education. Examine the data set for credit card bills. Create a regression model for credit card bills based on income. Compare this with the regression model for credit card bills based on income and the gender of the head of ...
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