Interpret confidence and prediction intervals.
-A sales manager was interested in determining if there is a relationship between
College GPA and sales performance (number of units sold in the previous month) among
Salespeople hired within the last year. The estimated regression equation fit to the data
Was found to be significant at α = 0.05. The 95% confidence interval for the number of
Units sold when GPA = 3.00 was determined to be 20.914 to 22.657. The correct
Interpretation is
A) We can be 95% confident that the number of units sold per month by a particular salesperson with a college GPA of 3.00 is between 20.914 and 22.657 units.
B) We can be 95% confident that the average number of units sold per month by salespersons with a college GPA of 3.00 is between 20.914 and 22.657 units.
C) The number of units sold per month by a salesperson with a college GPA of 3.00 will be between 20.914 and 22.657 units 95% of the time.
D) 95% of the time the average number of units sold per month will be between 20.914 and 22.657 units.
E) We can be 95% confident that each month between 20.914 and 22.657 units will be
Correct Answer:
Verified
Q5: Use the following for questions
An
Q8: Consider the following to answer the question(s)
Q10: Consider the following to answer the question(s)
Q13: Consider the following to answer the question(s)
Q15: Check assumptions / conditions for inferences in
Q16: Check assumptions / conditions for inferences in
Q18: Interpret confidence and prediction intervals.
-An operations manager
Q18: Consider the following to answer the question(s)
Q20: Check assumptions / conditions for inferences in
Q21: Check assumptions / conditions for inferences in
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents