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Given the fitted the regression equation of E(Price │ Weight) =-260 + 3721 ⨯ Weight and an RMSE from the regression of 32, then which of the following is the approximate 95% prediction interval for the price of a diamond that weighs 0.2 carats? Assume that the residuals are Normally distributed and that the prediction is within the range of the data that was used to fit the model.
7. Question 7 Given the fitted the regression equation of E(Price │ Weight) =-260 + 3721 ⨯ Weight and an RMSE from the regression of 32, then which of the…
One of the most important program cost control measures is to ensure an accurate estimate across the life of the program.
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