In exercise 9 we saw a regression to predict the sales per, Ask an Expert

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In Exercise 9 we saw a regression to predict the sales per person at a movie theater in terms of the time (in min- utes) before the show. The model was:

Sales = 4.3 + 0.265 Minutes.

a) A 90% prediction interval for a concessions customer 10 minutes before the movie starts is ($4.60, $9.30). Explain how to interpret this interval.

b) A 90% confidence interval for the mean of sales per per- son 10 minutes before the movie starts is ($6.65, $7.25). Explain how to interpret this interval.

c) Which interval is of particular interest to the conces- sions manager? Which one is of particular interest to you, the moviegoer?

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Accounting Basics, Accounting

Category:- Accounting Basics
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