The document discusses the difference between 95% confidence intervals and prediction intervals in regression analysis. Confidence intervals estimate the mean value of y for a given value of x, while prediction intervals give a range that a new individual y value is likely to fall within for that x value, accounting for variability in predicting individual values versus estimating means.
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1. You may need to use the appropriate appendx tabie or rechnology to answer this question.
Given are five observations collected in a regression thudy on two variables. Develop the 95%
confldence and prediction intervals when x= 8. (Round your answers to two dedimal piacesi)
Explein why these two intervals are difterent. The two intervais are different because there is
more varubility associated with predicting an individual value than there is with estimating a
mean value. The two intervals are different because you use a different critical value when
developing a confidence interval than when developing a prediction interval. The two intervals
are different because there is less variabaicy associated with predicting an individual value than
there is with estimating a mean value. The two intervals are offferent bectuse confidence
intervals are used to predict values of y for new observations corresponding to given values of x,
and prediction intervais give an asti the mean value of y for a given value of x.