In Problem 12.8 on page 441, you predicted the value of a baseball franchise, based on current…

In Problem 12.8 on page 441, you predicted the value of a baseball franchise, based on current…

In Problem 12.8 on page 441, you predicted the value of a baseball franchise, based on current revenue. The data are stored in BBRevenue2011.a. Construct a 95% confidence interval estimate of the mean value of all baseball franchises that generate $150 million of annual revenue.b. Construct a 95% prediction interval of the value of an individual baseball franchise that generates $150 million of annual revenue.c. Explain the difference in the results in (a) and (b).

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