A company has recorded data on the weekly sales for its product (y) and the unit price of the competitor's product (x). The data resulting from a random sample of 7 weeks follows. Use Excel to:
a.compute a 95% confidence interval for expected sales for all weeks when the competitor's price is .30.
b.compute a 95% prediction interval for sales for a week when the competitor's price is 30.
Definitions:
Thoracic Cavity
The body cavity located in the chest, containing the lungs, heart, and other thoracic organs.
Pericardial Cavity
The potential space between the parietal and visceral layers of the pericardium, containing a small amount of lubricating fluid.
Mediastinum
The central compartment of the thoracic cavity, containing the heart, trachea, esophagus, and major blood vessels.
Positive Feedback
A process in which a system amplifies its own output or activity, leading to an increase in the production of that output.
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