Construct the Indicated Prediction Interval for an Individual Y $\hat { \mathrm { y } } = 44.845 + 3.524 \mathrm { x }$

question 22

Multiple Choice

Construct the indicated prediction interval for an individual y.
-The paired data below consists of test scores and hours of preparation for 5 randomly selected students. The equation of the regression line is $\hat { \mathrm { y } } = 44.845 + 3.524 \mathrm { x }$ and the standard error of estimate is se $= 5.40$ . Find the $99 \%$ prediction interval for the test score of a person who spent 7 hours preparing for the test.
$\begin{array}{c|rrrrr}\text { x Hours of preparation } & 5 & 2 & 9 & 6 & 10 \\\hline \mathrm{y} \text { Test score } & 64 & 48 & 72 & 73 & 80\end{array}$

• A) \(32 < y < 107\)
• B) \(58 < y < 82\)
• C) \(62 < y < 78\)
• D) \(35 < y < 104\)

Understand the concepts of elasticity of labor supply and demand and their relationship to the burden of payroll taxes.

Recognize the long-term effects of changes in individual income tax rates and corporate profits tax on prices and profits across sectors.

Identify how the structure of business ownership (corporations, partnerships, proprietorships) affects tax liabilities and reporting.

Understand the concept of excess burden and how it affects the efficiency of tax policies.

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