A public policy research group is conducting a study of health care plans and would like
to estimate the average dollars contributed annually to health savings accounts by
participating employees. A pilot study conducted a few months earlier indicated that the
standard deviation of annual contributions to such plans was $1,225. The research
group wants the study’s findings to be within $100 of the true mean with a confidence
level of 90%. What sample size is required?
A) 407
B) 361
C) 512
D) 546
Which of the following statements is true?
A) The interval estimate for predicting a particular value of y given a specific x will be
narrower than the interval estimate for the average value of y given a particular x.
B) The higher the r-square value, the wider will be the prediction interval based on a
simple linear regression model.
C) The prediction interval generated from a simple linear regression model will be
narrowest when the value of x used to generate the predicted y value is close to the
mean value of x.
D) The prediction interval generated from a simple linear regression model will be
widest when the value of x used to generate the predicted y value is close to the mean
value of x.