Asked by Kaparya White on Jun 25, 2024

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When the variance of the mean value is smaller than the variance of individual values,________.

A) the p-value is equal to the Significance F
B) the data set contains an outlier
C) the Adjusted R Square is equal to 1
D) the prediction interval is wider than the confidence interval

Variance

The square of the standard deviation, indicating how much the values in a set vary from the mean.

Prediction Interval

A range of values that is likely to contain the value of an unknown parameter for a given level of confidence.

Confidence Interval

A range of values, derived from sample data, that is likely to contain the value of an unknown population parameter with a specified level of confidence.

  • Comprehend the significance of variance in mean value, prediction, and confidence intervals.
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SL
Samantha LópezJun 29, 2024
Final Answer :
D
Explanation :
When the variance of the mean value is smaller than the variance of individual values, it indicates that the mean provides a more precise estimate of the population parameter than individual observations do. This situation typically results in a narrower confidence interval for the mean estimate compared to the prediction interval for individual observations, as the prediction interval accounts for the additional variability of individual values around the mean.