Question: Refer to the confidence interval and prediction interval formulas. a) Explain why, for a fixed confidence level, the margin of error for the estimate of

Refer to the confidence interval and prediction interval formulas.

a) Explain why, for a fixed confidence level, the margin of error for the estimate of the conditional mean of the response variable increases as the value of the predictor variable moves farther from the mean of the observed values of the predictor variable.

b) Explain why, for a fixed prediction level, the margin of error for the estimate of the predicted value of the response variable increases as the value of the predictor variable moves farther from the mean of the observed values of the predictor variable.

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