Prediction interval, Applied Statistics

Prediction Interval

We would like to construct a prediction interval around  206_prediction interval.png  which would contain the actual Y.

If n  ≥  30,   206_prediction interval.png  ± Zse would be the interval, where Z is the appropriate Standard Normal Value.

If n < 30,   206_prediction interval.png  ± tse would be the interval, where t is the appropriate t value (with n - 2 degrees of freedom).

Example 

In the case of the pharmaceutical firm, at X = Rs.1 crore the 90% prediction interval is 22 ± 2.132 x 3.24.

Posted Date: 9/15/2012 5:23:56 AM | Location : United States







Related Discussions:- Prediction interval, Assignment Help, Ask Question on Prediction interval, Get Answer, Expert's Help, Prediction interval Discussions

Write discussion on Prediction interval
Your posts are moderated
Related Questions
Index Number Meaning and Definitions of Index Number The index numbers are the special type of averages which are presented in percentages and computed on certain base.

who invented the chi square test and why? what is central chi square and non central chi square test? what is distribution free statistics? what are the conditions when the chi squ

A salesperson visits from house to house to sell her knives. The probability that she makes a sale at a random house is .3. Given that she makes a sale, the sale is worth $100 with

Examples of grouped, simple and frequency distribution data

Weighted Arithmetic Mean Another aspect to be considered is the importance we assign to each observation. The arithmetic mean as we calculated it so far gives equal

it is said that management is equivalent to decision making? do you agree? explain

Disadvantages For calculating median it is necessary to arrange the data; other averages do not need any arrangement. Since it is a positional average, its value is not d

what is the aim of statistics?

The proportion of American Express credit-card holders who pay their credit card bill in full each month is 23%; the other 77% make only a partial or no payment. (a) In a random