Refer to Exercise 11.40 and the study of software millionaires and their birthdays. Recall that simple linear

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Refer to Exercise 11.40 and the study of software millionaires and their birthdays. Recall that simple linear regression was used to model number (y) of software millionaire birthdays in a decade as a straight-line function of number (x) of CEO birthdays.

a. Consider a future decade where the number of CEO birthdays (in a random sample of 70 companies) is 25. Find a 95% prediction interval for the number of software millionaire birthdays in this decade. Interpret the result.

b. Consider another future decade where the number of CEO birthdays (in a random sample of 70 companies) is 10. Will the 95% prediction interval for the number of software millionaire birthdays in this decade be narrower or wider than the interval, part b? Explain.

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Statistics For Business And Economics

ISBN: 9780134506593

13th Edition

Authors: James T. McClave, P. George Benson, Terry Sincich

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