Essay
Sales and Experience Narrative
The general manager of a chain of furniture stores believes that experience is the most important factor in determining the level of success of a salesperson. To examine this belief, she records last month's sales (in $1000s) and the years of experience of ten randomly selected salespeople. These data are listed below.
-Refer to Sales and Experience Narrative. Which interval in the previous two questions is narrower: the confidence interval estimate of the expected value of y or the prediction interval for the same given value of x (ten years) and same confidence level? Why?
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