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Question

Use the standard error to construct an approximate prediction interval for $Y$. Based on the width of this prediction interval, would you say the predictions are good enough to have practical value?

Solution

VerifiedAnswered 1 year ago

Answered 1 year ago

Step 1

1 of 4The goal of the problem is to create the approximate prediction interval of $Y$ using the standard error. Also, we need to determine if the prediction interval is sufficient to be used.

*What is the quick rule for approximate prediction interval of $Y$?*

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