Regression analysis was done using roster salary ( x , in millions of dollars) r
ID: 3316027 • Letter: R
Question
Regression analysis was done using roster salary (x, in millions of dollars) relative to the number of team wins (y) for a sample of major league baseball teams. A 95% prediction interval for the number of team wins for a team with a $120 million roster salary is [71.8, 101.2]. Interpret this prediction interval. Select all that apply.
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We are 95% confident that the average number of wins for teams with a $120 million roster salary is between 71.8 wins and 101.2 wins.unanswered
We are 95% confident that an individual team with a $120 million roster salary will have between 71.8 wins and 101.2 wins.unanswered
We are 95% confident that the true mean number of wins for teams with a $120 million roster salary is between 71.8 wins and 101.2 wins.unanswered
We are 95% confident that the number of wins for a single team with a $120 million roster salary is between 71.8 wins and 101.2 wins.
Explanation / Answer
Confidence interval gives the range for the population parameter
We are 95% confident that the true mean number of wins for teams with a $120 million roster salary is between 71.8 wins and 101.2 wins.