The following MINITAB output relates to a house having 2000

The following MINITAB output relates to a house having 2,000 square feet and a rating of 8. New Obs Fit SE Fit 95% CI 95% PI 1 148.6296 6.69 (132.82, 164.44) (113.37, 183.89) (a) Report a point estimate of and a 95 percent confidence interval for the mean sales price of all houses having 2,000 square feet and a rating of 8. (Round your answers to 2 decimal places.)

Point estimate is =

Report a point prediction of and a 95 percent prediction interval for the actual sales price of an individual house having 2,000 square feet and a rating of 8. (Round your answers to 2 decimal places.)

Point prediction =

Find 99 percent confidence and prediction intervals for the mean and actual sales prices referred to in parts a and b. Hint: n = 10 and s = 13.326. (Round your answers to 2 decimal places.) 99% confidence interval for the mean sales is: [ , ] 99% prediction interval for the actual sales is: [ , ]

Solution

a)

point estaimte = 2000

point prediction 2000 / 8 = 250