NARRBEGIN: Cost of Books
Cost of Books
The editor of a major academic book publisher claims that a large part of the cost of books is the cost of paper. This implies that larger books will cost more money. As an experiment to analyze the claim, a university student visits the bookstore and records the number of pages and the selling price of twelve randomly selected books. These data are listed below. $$\begin{array} { | c | c | c | }
\hline \text { Book } & \text { Number af Peges } & \text { Selling Price (\$) } \
\hline 1 & 844 & 55 \
2 & 727 & 50 \
3 & 360 & 35 \
4 & 915 & 60 \
5 & 295 & 30 \
6 & 706 & 50 \
7 & 410 & 40 \
8 & 905 & 53 \
9 & 1058 & 65 \
10 & 865 & 54 \
11 & 677 & 42 \
12 & 912 & 58 \
\hline
\end{array}$$ NARREND
-{Cost of Books Narrative} Which interval in the previous two questions is narrower: the confidence interval estimate of the expected value of y or the prediction interval for the same given value of x (10 years) and same confidence level? Why?

Question

NARRBEGIN: Cost of Books
Cost of Books
The editor of a major academic book publisher claims that a large part of the cost of books is the cost of paper. This implies that larger books will cost more money. As an experiment to analyze the claim, a university student visits the bookstore and records the number of pages and the selling price of twelve randomly selected books. These data are listed below. $$\begin{array} { | c | c | c | } 
\hline \text { Book } & \text { Number af Peges } & \text { Selling Price (\$) } \
\hline 1 & 844 & 55 \
2 & 727 & 50 \
3 & 360 & 35 \
4 & 915 & 60 \
5 & 295 & 30 \
6 & 706 & 50 \
7 & 410 & 40 \
8 & 905 & 53 \
9 & 1058 & 65 \
10 & 865 & 54 \
11 & 677 & 42 \
12 & 912 & 58 \
\hline
\end{array}$$ NARREND
-{Cost of Books Narrative} Which interval in the previous two questions is narrower: the confidence interval estimate of the expected value of y or the prediction interval for the same given value of x (10 years) and same confidence level? Why?

Quizplus · Accepted Answer

The Answer of NARRBEGIN: Cost of Books
Cost of Books
The editor of a major academic book publisher claims that a large part of the cost of books is the cost of paper. This implies that larger books will cost more money. As an experiment to analyze the claim, a university student visits the bookstore and records the number of pages and the selling price of twelve randomly selected books. These data are listed below. $$\begin{array} { | c | c | c | } 
\hline \text { Book } & \text { Number af Peges } & \text { Selling Price (\$) } \
\hline 1 & 844 & 55 \
2 & 727 & 50 \
3 & 360 & 35 \
4 & 915 & 60 \
5 & 295 & 30 \
6 & 706 & 50 \
7 & 410 & 40 \
8 & 905 & 53 \
9 & 1058 & 65 \
10 & 865 & 54 \
11 & 677 & 42 \
12 & 912 & 58 \
\hline
\end{array}$$ NARREND
-{Cost of Books Narrative} Which interval in the previous two questions is narrower: the confidence interval estimate of the expected value of y or the prediction interval for the same given value of x (10 years) and same confidence level? Why?

NARRBEGIN: Cost of Books Cost of Books the Editor of a Major

NARRBEGIN: Cost of Books
Cost of Books
the Editor of a Major