I Trying to Predict Weekly Sales with a Standard Error

question 63

Multiple Choice

i. Trying to predict weekly sales with a standard error of estimate of $1,955, we would conclude that 68 percent of the predictions would not be off more than $1,955, 95 percent would not be off by more $3,910, and 99.7 percent would not be off by more than $5,865. ii. Approximately 68% of the values lie within one standard error of the regression line.
iii. For a set of observations, there is no difference in the width of a confidence interval and the width of a predictor interval.

• A) (i), (ii), and (iii) are all correct statements.
• B) (i) and (ii) are correct statements but not (iii).
• C) (i) and (iii) are correct statements but not (ii).
• D) (ii) and (iii) are correct statements but not (i).
• E) (i), (ii), and (iii) are all false statements.

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Definitions:

Emotionally Healthier

Being in a state where one has good emotional health, characterized by the ability to manage emotions, cope with life's challenges, and maintain positive relationships.

Social Support

The perception or reality of having assistance available from other people, and the actual aid received from them, which can significantly affect an individual's stress levels and mental health.

Spirituality

An individual's sense of peace, purpose, and connection to others, and beliefs about the meaning of life.

Actor/Observer Bias

When interpreting our own behavior, the tendency to focus on situations rather than personality traits.