Simple Linear Regression - Difference between predicting and estimating?
Here is what my notes say about estimation and prediction:
Estimating the conditional mean
"We need to estimate the conditional mean at a value , so we use as a natural estimator." here we get
with a confidence interval for is
where Where these results are found by looking at the shape of the distribution and at and
"We want to predict the observation at a value "
Hence a prediction interval is of the form
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