Prediction and confidence intervals in regression

Abstract

This class considers prediction intervals, confidence intervals, and the associated statistics for a regression model. As with confidence intervals for the mean, these intervals rely on an estimate of variability known as the standard error. Although the interpretation of confidence intervals in regression is similar to that of the confidence intervals developed in Basic Business Statistics, the regression model itself is more complex and complicates the interpretation of the intervals. In addition, similar intervals known as prediction intervals provide estimates of the accuracy of predictions from the fitted model.