1 answer

Sales of Body           Price of Lens             Gender           Sales of Lens   &

Question:

Sales of Body           Price of Lens             Gender           Sales of Lens

                        155                 $700                             1                             122

                        101                     650                             1                             120

                        157                     725                            0                             135

                        180                     575                             1                             95

                        150                     600                             0                             100

                        201                     750                             0                             174

                        99                     560                             1                             118

                        137                    500                             0                             130

                        155                             675                             1                                  128

                        165                             550                             1                                  166

                        152                            725                             0                                  131

                        127                             750                             1                                  102

                        217                             565                             0                                  165

                        186                             670                             0                                  154

                        176                             600                             1                                  97

                        123                             585                             0                                  129

                        109                             645                             0                                  98

                        90                             575                             1                                  105

                        176                             660                             0                                  120

                        129                             650                             1                                  105

d)        Find a 99% confidence interval for the mean sales of the lens when sales of the camera body are 150 and the price of the lens is $700. Provide an explanation of the meaning of this interval.

e)        Find a 99% prediction interval for the sales of the lens when sales of the camera body are 150 and the price of the lens is $700. Explain its meaning relative to the problem. Compare the width of this interval to that of the interval calculated in the previous part of the problem. Give a reason for any difference in the width of this interval and the one you found in the previous part of the problem.


Answers

L - 1 1575 631 859 X New Microsoft Excel Worksheet - Microsoft Excel (Product Activation Failed) 0 Х File Home Insert Page La

I have written all the information in depth in this excel sheet for you to easily apply the formulas and complete this question.

I have explained the terms confidence interval and prediction interval in the excel sheet itself.

Kindly zoom and go through the sheet.

To find a statistic formula. Click on the fx option on the top and go in the statistic option, you will get all the formulas there.

Thanks

.

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