Question

The following partial JMP regression output for the Fresh detergent data relates to predicting demand for future sales periods in which the price difference will be .10.

Predicted Demand Lower 95% Mean
Demand Upper 95% Mean
Demand
31 8.537095392 8.140229299 8.933961486
StdErr Indiv
Demand Lower 95% Indiv
Demand Upper 95% Mean
Demand
0.804754873 6.888629432 10.185561350
(a) Report a point estimate of and a 95 percent confidence interval for the mean demand for Fresh in all sales periods when the price difference is .10. (Round your CI answers to 3 decimal places and other answer to 4 decimal places.)
Point estimate = ________
Confidence interval = _________ , ________
(b) Report a point prediction of and a 95 percent prediction interval for the actual demand for Fresh in an individual sales period when the price difference is .10. (Round your PI answers to 3 decimal places and other answer to 4 decimal places.)
Point estimate = ________
Confidence interval = _________ , ________
(c) StdErr Indiv Demand on the JMP output equals √1+distance value. Using this information, find 99 percent confidence and prediction intervals for mean and individual demands when x = .10. (Round your answers to 4 decimal places.)
99% C.I.: ________ , ________
99% P.I.: ________ , ________

Answer 1

Explanation:

From the question we are told that:

Drice difference p.d=0.10.

a)

Generally from the Table given above

i)

Point estimate =Predicted Demand

Therefore

Point estimate = 8.5371

ii)

With the Lower 95% Mean Demand and Upper 95% Mean Demand Given in the Table above

Confidence interval =(8.1402,8.9340)

b)

Generally from the Table given above

i)

Point estimate =Predicted Demand

Therefore

Point estimate = 8.5370

ii)

With the Lower 95% Mean Demand and Upper 95% Mean Demand Given in the Table above

Confidence interval =(6.8890 , 10.1860

c)

Generally from the Table given above

99% C.I.:8.0047 , 9.0556

99% P.I.:6.3154 , 10.7588