A regression prediction interval is a value range above and below the Y estimate calculated by the regression equation that would contain the actual value of a sample with, for example, 95 percent certainty. A prediction interval is a confidence interval about a Y value that is estimated from a regression equation. Find a 95% confidence interval for the mean market value for houses that are 30 years old and have 1,800 square feet and a 95% prediction interval for a house that is 30 years old with 1,800 square feet. Overview of Prediction Interval of Multiple Regression In Excel.
Using the data in the Excel file Home Market Value, develop a multiple linear regression model for estimating the market value as a function of both the age and size of the house. Confidence Interval Estimate of the Slope: Excel Printout for House Prices: At the 95 level of confidence, the confidence interval for the slope is (0.0337.