077. Interval Estimation in Regression Analysis

One of the basis purposes in conducting regression analysis is to forecast and predict values for the dependent variable. Once the regression equation has be determined, it is a very simple matter to develop a point estimate for the dependent variable by substituting a given value for X into the equation and solving for Y.

But it is more interesting to find out an interval estimates. There are at least Two interval estimates commonly associated with regression procedures.

1) An interval estimate for the mean value of Y given any X-value, i. e. The conditional mean (µY|x).

2) An estimation of a Single value Of Y given that X is set equal to a specific amount. This estimate is referred to as A predictive interval.

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