20 → Using the following Water Purifier prediction interval example from the text, how would you describe the probability orlikelihood that an 1800 GPH purifier would cost between whatprice intervals?*Enter the GPH for which you desire an estimate:Your estimated Price is:Prediction Interval (+/-)Confidence Level:Range90.0% 2,380Low4,071.311,8005,261.08OK ✓EstimateHigh5,261.08 6,450.85A There is a 98% likelihood that an 1800 GPH purifier would costbetween $4,071 and $6,450.85[B] There is a 90% likelihood that an 1800 GPH purifier would costbetween $4,071 and $5,261.08.c There is a 90% likelihood that an 1800 GPH purifier would costbetween $4,071 and $6,450.85D] There is a 98% likelihood that an 1800 GPH purifier would costbetween $4,071 and $5,261.08.

Based on a sample estimate, prediction interval offers a range of potential values for the water…

o→ Using the following Water Purifier prediction interval example f rom the text, how would you describe the probability or likelihood that an 1800 GPH purifier would cost between what price intervals?* Enter the GPH for which you desire an estimate:[ Your estimated Price is: Prediction Interval (+/-) Confidence Level: 90.0% Range 2,380 Low 4,071.31 1,800 5,261.08 Estimate 5,261.08 High 6,450.85

o→ Using the following Water Purifier prediction interval example f rom the text, how would you describe the probability or likelihood that an 1800 GPH purifier would cost between what price intervals?* Enter the GPH for which you desire an estimate:[ Your estimated Price is: Prediction Interval (+/-) Confidence Level: 90.0% Range 2,380 Low 4,071.31 1,800 5,261.08 Estimate 5,261.08 High 6,450.85

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter5: Business And Economic Forecasting

Section: Chapter Questions

Problem 1.2CE: Plot the logarithm of arrivals for each transportation mode against time, all on the same graph....

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