Which of the following statements is true about prediction intervals?
A)Prediction intervals are wider than confidence intervals because there is more uncertainty in predicting an individual's value.
B)A prediction interval is concerned with predicting values for individuals.
C)The width of the prediction interval is affected by the size of the standard deviation of the population distribution
D)All of the above statements are true

Question

Quizplus · Accepted Answer

All the statements provided are true about prediction intervals. Prediction intervals account for the uncertainty in predicting a single individual's value, which is inherently more uncertain than estimating a population parameter, thus they are wider than confidence intervals. They are indeed concerned with predicting values for individuals, and the width of the prediction interval is influenced by the size of the standard deviation of the population distribution, as this affects the variability expected in individual predictions.

Which of the Following Statements Is True About Prediction Intervals