If we were interested in using regression methods to predict the tourism revenue for a particular country that had 30 million foreign visitors we should ________________________ .
A)construct a confidence interval using the regression equation
B)construct a predication interval using the regression equation
C)use the correlation
D)use the standard error
E)None of these.

Question

Quizplus · Accepted Answer

To predict the tourism revenue for a particular country based on the number of foreign visitors, constructing a prediction interval using the regression equation is the most appropriate method. This approach allows for the estimation of the range within which the actual value of tourism revenue is likely to fall, taking into account the variability of the data and the uncertainty associated with the prediction.

If We Were Interested in Using Regression Methods to Predict