The Washington Times business section in March of 1997
Chapter , Problem 7.84(choose chapter or problem)
The Washington Times business section in March of 1997 listed 21 different used computers and printers and their sale prices. Also listed was the average hover bid. Partial results from regression analysis using SAS software are shown in Figure 7.23 on page 350. (a) Explain the difference between the confidence interval on the mean and the prediction interval. (b) Explain why the standard errors of prediction vary from observation to observation. (c) Which observation has the lowest standard error of prediction? Why?
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