Question

EQuestion Help 13.8.62-T The value of a sports franchise is directly related to the amount of revenue a franchise can generate. The accompanying data table shows the annual revenue (in millions of dolars) and value (in millions of dollars) for 30 baseball franchises. Complete parts (a) through (c) below. EB Click the icon to see the annual revenue and value data table. a. Construct a 95% confidence interval estimate of the mean value of all baseball franchises that generate $225 million of annual revenue Anual Revenue and Value (Roun lo wo decimal laces as needed) (Round to two decimal places as needed.) Value Value 453 Revenue Revenue 170 266 192 165 183 157 163 440 151 190 160 175 161 175 376 873 467 387 373 342 410 599 291 443 313 453 324 381 242 164 183 141 194 247 169 268 233 142 194 153 199 185 328 386 320 451 726 351 858 540 292 493 406 479 389 Enter your answer in the edit fields and the Print Done

construct a 95% confidence interval estimate and

95% prediction interval

Answer 1

Answer Date: 22/03/2019 a) A 95% confidence interval estimate of the mean value of all baseball franchises that generate $225 million of annual revenue is, using Evcel sore, find confidence interval with the help of following steps: 1) Import the data. 2) Select the MegaStat from Add-Ins option 3) Select the Regression Analysis from Regression. 4)Select data input 5) Enter Predictor value from Predictor value form spreadsheet. 6) Click Ok. Revenue 225 Predictedlower 623.512 603.286 upperlowerupper 643.737 523.357 723.666 From the Excel output, a 95% confidence interval estimate of the mean value of all baseball franchises that generate S225 million ofannual revenue is 603.29 to 643.74

b) A 95% prediction interval estimate of the mean value of all baseball franchises that generate S225 million of annual revenue is, From Excel output in part (a), a 95% prediction interval estimate of the mean value of all baseball franchises that generate S225 million of annual revenue is 523.36 to 723.67