Question: For a random sample of children from a school district in South Carolina, a regression analysis is conducted of y = amount spent on clothes

For a random sample of children from a school district in South Carolina, a regression analysis is conducted of y = amount spent on clothes in the past year (dollars) and x = year in school. MINITAB reports the tabulated results for observations at x = 12.

a. Interpret the value listed under €œFit.€
b. Interpret the interval listed under €œ95% CI.€
c. Interpret the interval listed under €œ95% PI.€

Predicted Values for New Observations NewObs Fit SEFit 95% CI 95% PI 448.0 10.6 (427, 469) (101,795)

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