For a given value of x,the estimation interval for an individual y observation is called the:
A) confidence interval.
B) residual.
C) prediction interval.
D) least-squares interval.
E) standard error of estimate.

Question

Quizplus · Accepted Answer

The prediction interval is used to estimate the range of values within which a future observation is expected to fall with a certain level of confidence. This interval takes into account the variation in both the explanatory variable (x) and the response variable (y). The confidence interval (A) is used to estimate the range of values within which the mean of the y variable is expected to fall, while the residual (B) measures the difference between the observed and predicted values of y. The least-squares interval (D) and standard error of estimate (E) are not commonly used terms in inferential statistics. Therefore, the correct answer is C) prediction interval.

For a Given Value of X,the Estimation Interval for an Individual