Topic: 95% prediction interval estimates

Subject: BUSN660 Advanced Analytics

Hello, I am looking for step by step directions in excel so I can understand how the answer was reached.

I ran both descriptive statistics and the regression statistics data features in excel but was not sure what went where in the formula.

The answer for the white package is: 5.62, 8.38

The answer for the blue package is: 5.15, 7.84

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Question:

The 95% prediction interval estimate for the new white package and blue package

Scenario:

A package goods supplier designed a new package ("white") that it thought was more appealing than its old package ("blue"). It conducted a 10-week trial of the two packages in selected "matched" stores with the results shown below (sales in thousands of dollars).

Provided data:

Week: 1 2 3 4 5 6 7 8 9 10

Blue package: 8.4 4.9 3.3 6.9 9.3 8.7 5.3 3.4 6.9 7.9

White package:9.2 5.3 3.1 7.6 9.2 9.2 5.7 4.4 7.8 8.5