Question

In: Math

Explain the difference between a confidence interval and a prediction interval?

Explain the difference between a confidence interval and a prediction interval?

Solutions

Expert Solution

milcah answered 2 months ago
Next > < Previous

Related Solutions

1. Explain the difference between the point estimate and interval estimate (confidence interval). 2. What is...
1. Explain the difference between the point estimate and interval estimate (confidence interval). 2. What is margin of error? 3. Why must we use the point estimate pˆ (sample proportion) in the calculation of the standard error when producing a confidence interval for p (population proportion)? 4. Assamplesizeincreases,whatistheeffectonthemarginoferror? Why? 5. Asconfidencelevelincreases,whatistheeffectonthemarginof error? Why? 6. Whatdetermineswhethertouseat-distributionoranormaldistribution for finding a confidence interval for μ ? 7. What is the condition to use Chi-squared distribution when estimating the population standard deviation? 8. Describe...
Using an illustrative example, explain the difference between: i) a 95% confidence interval for a population...
Using an illustrative example, explain the difference between: i) a 95% confidence interval for a population mean and ii) a 95% tolerance interval based on a single sample.
Construct the indicated confidence interval for the difference between the two population means.
Construct the indicated confidence interval for the difference between the two population means. Assume that the two samples are independent simple random samples selected from normally distributed populations. Do not assume that the population standard deviations are equal. Independent samples from two different populations yield the following data. The sample size is 478 for both samples. Find the \(85 \%\) confidence interval for \(\mu_{1}-\mu_{2}\). \(\bar{x}_{1}=958, \bar{x}_{2}=157, s_{1}=77, s_{2}=88\) A. \(800<\mu_{1}-\mu_{2}<802\) B. \(791<\mu_{1}-\mu_{2}<811\) C. \(793<\mu_{1}-\mu_{2}<809\) D. \(781<\mu_{1}-\mu_{2}<821\)
In a short paragraph, distinguish between a Confidence Interval and the Level of Confidence. Explain what...
In a short paragraph, distinguish between a Confidence Interval and the Level of Confidence. Explain what each represents and the relationship between them. (3 points) Identify the three components of a Confidence Interval. Explain what each represents and the relationship between them. (3 points) Describe a potential issue with public opinion polls that report interval estimates, but not confidence intervals. Discuss this in a short paragraph. (3 points) TYPED ONLY PLEASE
For each of the following questions, determine which kind of prediction confidence interval is appropriate. a)....
For each of the following questions, determine which kind of prediction confidence interval is appropriate. a). Predict the humidity level in this greenhouse tomorrow when we set the temperature level at 31 °C? b). Predict how much do families spend, on the average, on meals? Suppose the family income is $50,000 c). Predict how many kilowatt-hours of electricity will be consumed in September by commercial and industrial users in the Twin Cities service area, given that the index of business...
Use the two-proportions z-interval procedure to obtain the required confidence interval for the difference between two...
Use the two-proportions z-interval procedure to obtain the required confidence interval for the difference between two population proportions. Assume that independent simple random samples have been selected from the two populations. A survey of students at one college found that 57 of 96 randomly selected freshmen and 85 of 118 randomly selected sophomores lived off campus. Find a 98% confidence interval for the difference between the proportions of freshmen and sophomores at this college who live off campus. -0.278 to...
Construct and interpret a 90% confidence interval estimate for the difference between the proportion of technology...
Construct and interpret a 90% confidence interval estimate for the difference between the proportion of technology crowd-funding projects and film and video crowd-funding projects that are successful. The researchers performing this study can be [enter percentage] confident that the difference in the population proportion of successful technology crowd-funding projects and successful film and video crowd-funding projects is [contained in, less than lower bound, greater than upper bound, equal to midpoint] the interval from [   ] to [ ]. alpha = .1...
Describe a confidence interval for the difference in means between two population by stating 1. a...
Describe a confidence interval for the difference in means between two population by stating 1. a pair of populations composed of the same type of individuals and a quantitative variable on those populations, 2. sizes and degrees of freedom of samples from those populations, 3. the means of those samples, and 4. the standard deviations of those samples. Then state 5. a confidence level and find 6. find the interval. Finally, perform a test of significance concerning the difference in...
Construct the indicated confidence interval for the difference between the two population means. Assume that the...
Construct the indicated confidence interval for the difference between the two population means. Assume that the two samples are independent simple random samples selected from normally distributed populations. Do not assume that the population standard deviations are equal. A paint manufacturer wished to compare the drying times of two different types of paint. Independent simple random samples of 11 cans of type A and 9 cans of type B were selected and applied to similar surfaces. The drying times, in...
Construct the indicated confidence interval for the difference between the two population means. Assume that the...
Construct the indicated confidence interval for the difference between the two population means. Assume that the two samples are independent simple random samples selected from normally distributed populations. Also assume that the population standard deviations are equal (sigma1 = sigma2), so that the standard error of the difference between means is obtained by pooling the sample variances. A paint manufacturer wanted to compare the drying times of two different types of paint. Independent simple random samples of 11 cans of...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT