Suppose you want to predict some future value of y when x = x p using the

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Suppose you want to predict some future value of y when x = x_pusing the prediction equation ŷ = β̂_o + β̂₁x. The error of prediction will be the difference between the actual value of y_p and the predicted value ŷ, i.e.,

Error of prediction = y_p - ŷ

a. Explain why the error of prediction will be normally distributed.

b. Find the expected value and the variance of the error of prediction.

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Statistics For Engineering And The Sciences

ISBN: 9781498728850

6th Edition

Authors: William M. Mendenhall, Terry L. Sincich

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Question Posted: Apr 30, 2021 01:41 AM

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Suppose you want to predict some future value of y when x = x p using the

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a The error of prediction in a simple linear regression model is the difference between the actual v...View the full answer

Statistics For Engineering And The Sciences

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