Calculate a prediction interval for the number of items sold when the retailers price is 28 SEK, the competitors price i
Posted: Sun Jul 10, 2022 10:09 am
Calculate a prediction interval for the number of items soldwhen the retailers price is 28 SEK, the competitors price is 31SEK, the retailer uses special offers and the advertising costs is2500 SEK (Note: use the value of the independent variable that isrelevant for your model).What is the interpretation of thisinterval? We took values b0, b1 and s2e from Table 2. We alreadyknow the tn-2,a/2 because it is the tcritical value. n= 30 and x =Competitors price – Retailers price = 31-28=3 The calculation is:(-133,6699275) + (58,89018106*3) ±2.048√4843,523937*(1+1/30+(3-1,57)2-(30-1)*3,14)= 43,00061568 ±208,810503 I did this but it was not correct