Question 10.44

10.44 Predicting 2013 tuition from 2000 tuition.

Refer to Exercise 10.21 (page 506).

tuit

  1. Find a 95% confidence interval for the mean tuition amount corresponding to a 2000 tuition of $3872.
  2. Find a 95% prediction interval for a future response corresponding to a 2000 tuition of $3872.
  3. Write a short paragraph interpreting the meaning of the intervals in terms of public universities.
  4. Do you think that these results can be applied to private universities? Explain why or why not.