Statistics: Informed Decisions Using Data (4th Edition)

Published by Pearson
ISBN 10: 0321757270
ISBN 13: 978-0-32175-727-2

Chapter 14 - Section 14.3 - Assess Your Understanding - Applying the Concepts - Page 727: 35l

Answer

The 95% prediction interval is between 4870.30 and 9113.01 dollars. (for the price of a particular diamond with 0.85 carat, color E, clarity VVS1)

Work Step by Step

With the results from item (e) still available in MINITAB: Select Stats -> Regression -> Regression -> Predict Enter 0.85, 2 and 3 in the first row of the table. Click in Options and enter the level of confidence. Click OK. Click OK.
Update this answer!

You can help us out by revising, improving and updating this answer.

Update this answer

After you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.