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

., Theories of Business forecasting

Theories of Business forecasting

BIVARIATE FREQUENCY , MARKS IN LAW :10 11 10 11 11 14 12 12 13 10 MARKS IN ...

MARKS IN LAW :10 11 10 11 11 14 12 12 13 10 MARKS IN STATISTICS :20 21 22 21 23 23 22 21 24 23 MARKS IN LAW:13 12 11 12 10 14 14 12 13 10 MARKS IN STATISTICS:24 23 22 23 22 22 24 2

Empirical mode, Empirical Mode Where mode is ill-defined, its value may...

Empirical Mode Where mode is ill-defined, its value may be ascertained by the following formula based upon the empirical relationship between Mean, Median and Mode: Mode = 3

Find the backward induction equilibrium, A rightist incumbent (player I) an...

A rightist incumbent (player I) and a leftist challenger (player C) run for senate. Each candidate chooses among two possible political platforms: Left or Right. The rules of the g

Regression model, A real estate agency collected the data shown below, wher...

A real estate agency collected the data shown below, where           y  = sales price of a house (in thousands of dollars)           x 1 = home size (in hundreds of square f

Box plots, This box plot displays the diversity wfood; the data ranges from...

This box plot displays the diversity wfood; the data ranges from 0.05710 being the minimum value and 0.78900 being the maximum value. The box plot is slightly positively skewed at

Mode, Mode Mode is the value of the observation which occurs with the  ...

Mode Mode is the value of the observation which occurs with the   greatest  frequency and thus  it is the most fashionable value, Mode has been derived from French  word  La  m

Spatial ability test, What would be the cutoff score to indicate a score th...

What would be the cutoff score to indicate a score that is in the top 15% of the scores on a test with a mean of 100 and a standard deviation of 15? This question has multiple p

Purposive or judgement sampling, Purposive or Judgement Sampling Under ...

Purposive or Judgement Sampling Under this method of sampling, the choice  of selection of sample  items from the universe  depends exclusively on the judgement  of the investi

Solve the normal distribution problem, Assume that the normal distribution ...

Assume that the normal distribution applies and find the critical z value(s). A = 0.04; H1 is mean ≠ 98.6 degrees Fahrenheit. Dteremine the value of Z. Find the value of the

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