the lower limit of the prediction interval is approximately 5 - (2⋅1) = 3, and the upper limit is approximately 5 + (2⋅1) = 7, thus giving a prediction interval of approximately 3 to 7.

Estimation of parameters

For a distribution with unknown parameters, a direct approach to prediction is to estimate the parameters and then use the associated quantile function - for example, one could use the sample mean as an estimate for u and the sample variance s²

1.Previous
3.Next