Next candidate an attractive salary

Reference no: EM131009372

1. A printout in the back of a market report summarized sales in retail outlets with two intervals but did not label which was a confidence interval for the mean and which was a prediction interval. If both are 95% intervals, can you tell which is which? If so, how?

2. The manager of the HR group needs to hire a new technical analyst and wants to offer the next candidate an attractive salary. Which is more useful to the manager, a prediction interval for the salary of a new technical analyst or a confidence interval for the median salary of a technical analyst?

Reference no: EM131009372

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