What is the 95% prediction interval?
What is the 95% prediction interval? A 95% prediction interval of 100 to 110 hours for the mean life of a battery tells you that future batteries produced will fall into that range 95% of the time. There is a 5% chance that a battery will not fall into this interval. How do you find the 80% prediction interval? Similarly, an 80% prediction interval is given by 531.48±1.28(6.21)=[523.5,539.4]. How do you interpret a 95% prediction interval? A prediction interval is a range of values that is likely to contain the value of a single new observation given specified settings of...