Calculate confidence intervals to estimate the conditional mean of the dependent variable and prediction intervals to estimate a single value of the dependent variable.

Question

Quizplus · Accepted Answer

The Answer is One of the most prevalent uses of a regression model is to predict the values of y for given values of x.Recognizing that the predicted value is often not the same as the actual value,a confidence interval has been developed to yield a range within which the mean y value for a given x should fall.A prediction interval for a single y value for a given x value is also specified.This second interval is wider because it allows for the wide diversity of individual values,whereas the confidence interval for the mean y value reflects only the range of average y values for a given x.

Calculate Confidence Intervals to Estimate the Conditional Mean of the Dependent