When the variance of the mean value is smaller than the variance of individual values,________.
A)the p-value is equal to the Significance F
B)the data set contains an outlier
C)the Adjusted R Square is equal to 1
D)the prediction interval is wider than the confidence interval

Question

Quizplus · Accepted Answer

When the variance of the mean value is smaller than the variance of individual values, it indicates that the mean provides a more precise estimate of the population parameter than individual observations do. This situation typically results in a narrower confidence interval for the mean estimate compared to the prediction interval for individual observations, as the prediction interval accounts for the additional variability of individual values around the mean.

When the Variance of the Mean Value Is Smaller Than