Difference in the widths of intervals

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Reference no: EM131798764

Using the data in the accompanying table, estimate the model: Salary = β₀ + β₁Education + ε, where salary is measured in $ 1,000s and education refers to years of higher education.

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a. Construct a 90% confidence interval for the expected salary for an individual who completed 6 years of higher education.

b. Construct a 90% prediction interval for salary for an individual who completed 6 years of higher education.

c. Comment on the difference in the widths of these intervals.

Reference no: EM131798764

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