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The National Highway Association is studying relationship between the number of bidders on highway project and the winning (lowest) bid for project. Of particular interest is whether the number of bidders raises or reduces the amount of winning bid.

Project

Number of Bidders, X

Winning Bid ($ millions), Y

Project

Number of Bidders, X

Winning Bid ($ millions), Y

1

9

5.1

9

6

10.3

2

9

8.0

10

6

8.0

3

3

9.7

11

4

8.8

4

10

7.8

12

7

9.4

5

5

7.7

13

7

8.6

6

10

5.5

14

7

8.1

7

7

8.3

15

6

7.8

8

11

5.5

 

 

 

A new entrance is to be constructed on Ohio Turnpike. There're seven bidders on project. Make a 95 percent prediction interval for winning bid.

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M923479

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