How does a confidence interval differ from a prediction interval?
A) Confidence intervals are used to measure the accuracy of a single individual's predicted value, while a prediction interval is used to measure the accuracy of the mean response of all the individuals in the population.
B) Confidence intervals are used to measure the accuracy of the mean response of all the individuals in the population, while a prediction interval is used to measure the accuracy of a single individual's predicted value.
C) Confidence intervals are constructed about the predicted values of x while prediction intervals a constructed about a particular value of y
D) Confidence intervals are constructed about the predicted values of y while prediction intervals a constructed about a particular value of x

Question

Quizplus · Accepted Answer

Confidence intervals are used to estimate the range within which the mean of a population parameter is expected to lie with a certain level of confidence, typically concerning the mean response of a population. Prediction intervals, on the other hand, provide a range within which a single new observation is expected to fall, with a certain level of confidence. This distinction highlights the difference in their applications: confidence intervals for population parameters and prediction intervals for individual predictions.

How Does a Confidence Interval Differ from a Prediction Interval