a.Construct a 95%confidence interval estimate of the mean cost of a meal for restaurants that have a summated rating of 51. 19.857≤Y1X=×1≤26.923 (Type integers or decimals.Round to three decimal places as needed.Use ascending order.) b.Construct a 95%prediction interval of the cost of a meal for an individual restaurant that has a summated rating of 51. 4.498≤Yx=51≤42.283 (Type integers or decimals.Round to three decimal places as needed.Use ascending order.) c.Explain the differences in the results from (a)and(b).Choose the correct answer below. OA.Since there is more variation in estimating a mean value than in predicting an individual value,the confidence interval is narrower than the prediction interval,holding everything else fixed. B.Since there is more variation in estimating a mean value than in predicting an individual value,the confidence interval is wider than the prediction interval,holding everything else fixed. O C.Since there is more variation in predicting an individual value than in estimating a mean value,the prediction interval is wider than the confidence interval,holding everything else fixed. OD.Since there is more variation in predicting an individual value than in estimating a mean value,the prediction interval is narrower than the confidence interval,holding everything else fixed.
Question
a.Construct a 95%confidence interval estimate of the mean cost of a meal for restaurants that have a summated rating of 51. 19.857≤Y1X=×1≤26.923 (Type integers or decimals.Round to three decimal places as needed.Use ascending order.) b.Construct a 95%prediction interval of the cost of a meal for an individual restaurant that has a summated rating of 51. 4.498≤Yx=51≤42.283 (Type integers or decimals.Round to three decimal places as needed.Use ascending order.) c.Explain the differences in the results from (a)and(b).Choose the correct answer below. OA.Since there is more variation in estimating a mean value than in predicting an individual value,the confidence interval is narrower than the prediction interval,holding everything else fixed. B.Since there is more variation in estimating a mean value than in predicting an individual value,the confidence interval is wider than the prediction interval,holding everything else fixed. O C.Since there is more variation in predicting an individual value than in estimating a mean value,the prediction interval is wider than the confidence interval,holding everything else fixed. OD.Since there is more variation in predicting an individual value than in estimating a mean value,the prediction interval is narrower than the confidence interval,holding everything else fixed.
Solution
The correct answer is C. Since there is more variation in predicting an individual value than in estimating a mean value, the prediction interval is wider than the confidence interval, holding everything else fixed.
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