A company has recorded data on the weekly sales for its product (y) and the unit price of the competitor's product (x). The data resulting from a random sample of seven weeks follows. Use Excel to a. Compute a $95 \%$ confidence interval for expected sales for all weeks when the competitor's price is $0.30$.
b. Compute a $95 \%$ prediction interval for sal es for a week when the competitor's price is $0.30$.
$\begin{array}{lll}
\text { Week } & \text { Price } & \text { Sales } \
\hline 1 & 0.33 & 20 \
2 & 0.25 & 14 \
3 & 0.44 & 22 \
4 & 0.40 & 21 \
5 & 0.35 & 16 \
6 & 0.39 & 19 \
7 & 0.29 & 15
\end{array}$

Question

A company has recorded data on the weekly sales for its product (y) and the unit price of the competitor's product (x). The data resulting from a random sample of seven weeks follows. Use Excel to a. Compute a $95 \%$ confidence interval for expected sales for all weeks when the competitor's price is $0.30$.
b. Compute a $95 \%$ prediction interval for sal es for a week when the competitor's price is $0.30$.
$\begin{array}{lll}
\text { Week } & \text { Price } & \text { Sales } \
\hline 1 & 0.33 & 20 \
2 & 0.25 & 14 \
3 & 0.44 & 22 \
4 & 0.40 & 21 \
5 & 0.35 & 16 \
6 & 0.39 & 19 \
7 & 0.29 & 15
\end{array}$ ​

Quizplus · Accepted Answer

The Answer of A company has recorded data on the weekly sales for its product (y) and the unit price of the competitor's product (x). The data resulting from a random sample of seven weeks follows. Use Excel to a. Compute a $95 \%$ confidence interval for expected sales for all weeks when the competitor's price is $0.30$.
b. Compute a $95 \%$ prediction interval for sal es for a week when the competitor's price is $0.30$.
$\begin{array}{lll}
\text { Week } & \text { Price } & \text { Sales } \
\hline 1 & 0.33 & 20 \
2 & 0.25 & 14 \
3 & 0.44 & 22 \
4 & 0.40 & 21 \
5 & 0.35 & 16 \
6 & 0.39 & 19 \
7 & 0.29 & 15
\end{array}$ ​

A Company Has Recorded Data on the Weekly Sales for Its