Please use the given information to answer subquestions 10.a, 10.b, and 10.c

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 10CYU
icon
Related questions
Question

Please use the given information to answer subquestions 10.a, 10.b, and 10.c

10.b
1. The 95% confidence interval for the mean listed price per night ($) for all Airbnbs in NYC with 250 reviews is ($181.30, $216.5)
2. The 95% prediction interval for the listed price per night ($) for an Airbnb in NYC with 250 reviews is ($15.62, $382.18)
What do you notice about the width of these two intervals? Compare the width of the two intervals (confidence interval and prediction interval) by
providing the appropriate margin of error
Does this relationship between the confidence interval and prediction interval hold for any value of x? Explain.
No answer entered. Click above to enter an answer.
10.c
Normal Q-Q
2510
01888..*
O o 000000
-3
-2
-1
1
2
3
Theoretical Quantiles
Im(price - number_of_reviews)
Clearly state the assumption that this graph can be used to check.
Standardized residuals
-1
2
Transcribed Image Text:10.b 1. The 95% confidence interval for the mean listed price per night ($) for all Airbnbs in NYC with 250 reviews is ($181.30, $216.5) 2. The 95% prediction interval for the listed price per night ($) for an Airbnb in NYC with 250 reviews is ($15.62, $382.18) What do you notice about the width of these two intervals? Compare the width of the two intervals (confidence interval and prediction interval) by providing the appropriate margin of error Does this relationship between the confidence interval and prediction interval hold for any value of x? Explain. No answer entered. Click above to enter an answer. 10.c Normal Q-Q 2510 01888..* O o 000000 -3 -2 -1 1 2 3 Theoretical Quantiles Im(price - number_of_reviews) Clearly state the assumption that this graph can be used to check. Standardized residuals -1 2
Airbnb is an online marketplace used by many travelers when booking lodging all over the world. The company serves as a broker, receiving
commissions from each booking. Guests have the opportunity to give a review to their host once their lodging is complete. New York City (NYC) is
known for high lodging prices.
We took a random sample of 343 Airbnb listings and recorded many variables including price per night (in dollars) and number of reviews (count). We
would like to study the relationship between number of reviews (count) and price (in dollars) for all Airbnb listing in NYC. Using regression, we would
like to explore if the number of reviews (explanatory variable) has an effect on the listed price per night (response).
Question 10 Subquestions
10.a
The prediction interval for the price per night of one Airbnb listing in NYC would be narrowest for which of the following number of reviews?
350 reviews
78 reviews
280 reviews
10 reviews
Transcribed Image Text:Airbnb is an online marketplace used by many travelers when booking lodging all over the world. The company serves as a broker, receiving commissions from each booking. Guests have the opportunity to give a review to their host once their lodging is complete. New York City (NYC) is known for high lodging prices. We took a random sample of 343 Airbnb listings and recorded many variables including price per night (in dollars) and number of reviews (count). We would like to study the relationship between number of reviews (count) and price (in dollars) for all Airbnb listing in NYC. Using regression, we would like to explore if the number of reviews (explanatory variable) has an effect on the listed price per night (response). Question 10 Subquestions 10.a The prediction interval for the price per night of one Airbnb listing in NYC would be narrowest for which of the following number of reviews? 350 reviews 78 reviews 280 reviews 10 reviews
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Integers
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Holt Mcdougal Larson Pre-algebra: Student Edition…
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Algebra
ISBN:
9781680331141
Author:
HOUGHTON MIFFLIN HARCOURT
Publisher:
Houghton Mifflin Harcourt
College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
College Algebra
College Algebra
Algebra
ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax