Prediction interval, Applied Statistics

Assignment Help:

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.


Related Discussions:- Prediction interval

Standard gaussian random variable , You will recall the function pnorm() fr...

You will recall the function pnorm() from lectures. Using this, or otherwise, Dteremine the probability of a standard Gaussian random variable exceeding 1.3.  Using table(), or

Sample standard deviation, Sample Standard Deviation So far, we discu...

Sample Standard Deviation So far, we discussed the population standard deviation. Now, let us switch to sample standard deviation(s) that is analogous to the population stand

Quote, How much would u charge for 4 questions

How much would u charge for 4 questions

Population variance, Examining the Population Variance Business decisio...

Examining the Population Variance Business decision making does not limit itself to setting up the hypothesis to test for the equality of more than two means or proportions sim

Find the inverse laplace transform, Q. Find the inverse Laplace transform o...

Q. Find the inverse Laplace transform of Y (s) = s-4/s 2 + 4s + 13 +3s+5/s 2 - 2s -3. Q. Use the Laplace transform to solve the initial value problem y''+ y = cos(3t), y(0) =

E-mail messages should be answered quickly, Do people of different age grou...

Do people of different age groups differ in their response to e-mail messages? A survey by the Cent of the Digital Future of the University of Southern California reported that 70.

Assignment 1: Testing Hypotheses for Means, Review the Learning Resources a...

Review the Learning Resources and the media programs related to t tests. For additional support, review the Skill Builder: Research Design and Statistical Design and the Skill Buil

Chi-square analysis, Chi-square analysis can be used with both Goodness-of-...

Chi-square analysis can be used with both Goodness-of-Fit Tests and with Tests for Independence. There are specific instances when each test should be used based on the information

Techniques, Q. 1 a) Describe the important quantitative techniques used in ...

Q. 1 a) Describe the important quantitative techniques used in public system management. (10) b) Do you think the day will come when all decisions are made with the assistance of

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd