Published on January 29, 2016
For more course tutorials visit www.uophelp.com Correlation and Confidence Intervals. A car dealer is using the number of years customers have owned their vehicles to predict how long it will be before they elect to replace them. The correlation between the two is (the longer they have owned their present vehicles, the more quickly they are expected to replace them). The other relevant data are as follows for 32 customers: Based on the information above, answer the following questions: a. How long is the time to expected replacement for a customer who has owned a vehicle 6.5 years? b. Calculate .95 and .99 confidence intervals and explain your results. c. How will a larger standard deviation in the criterion variable affect the width of the confidence intervals? Why?