Explain why the confidence interval for the mean value of y, Basic Statistics

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Explain why the confidence interval for the mean value of y

Learning the mechanics:

(a) Explain why for a particular x-value, the prediction interval for an individual y-value will always be wider than the confidence interval for a mean value of y.

(b) Explain why the confidence interval for the mean value of y for a particular x-value, say, x_p, gets wider the farther x_p is from x‾. What are the implications of this phenomenon for estimation and prediction?

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Basic Statistics: Explain why the confidence interval for the mean value of y

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Basic Statistics: Explain why the confidence interval for the mean value of y

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