3) Data were collected to explain the amount of a customer's purchase (expressed in $'s) based on the amount of time the customer has spent on the company's website (expressed in minutes) Complete the Table Below (1-0.548)(12-1-1) 1-0,44730,5529 12-1 Regression Statistics Multiple R 0.552 R Square Adjusted R Square 0,773 0.508 Standard Error 11.478 Observations 12 ANOVA df SS MS F 70.5527-01723/1 63,067,31-63067.3 n-2=12-2=10 Slus4 71.478 51086.4 12-1-1 = 1-1-12-1=11 63061.3751084,4=1141,53 -3.53 0.083 4.21 Regression 63067.3 Significance F 12.3u32 0.005598142 Residual 51086.4 Total Intercept Time Standard Upper Coefficients Error t Stat P-value Lower 95% 95% -3.53 42.21 0.935 7.12 2.03 0.006 Based on the regression results, answer the following questions a) What is the estimated regression equation? b) What percentage of the variation in purchase amount is explained by time? c) What is the correlation between purchase amount and time? d) What is the standard error of the error term in the regression equation? e) Is the coefficient on the variable "time" statistically significantly different than 0 at the 5% level of significance? How do you know? f) What is the predicted purchase amount for a customer who has spent 30 minutes on the website?
3) Data were collected to explain the amount of a customer's purchase (expressed in $'s) based on the amount of time the customer has spent on the company's website (expressed in minutes) Complete the Table Below (1-0.548)(12-1-1) 1-0,44730,5529 12-1 Regression Statistics Multiple R 0.552 R Square Adjusted R Square 0,773 0.508 Standard Error 11.478 Observations 12 ANOVA df SS MS F 70.5527-01723/1 63,067,31-63067.3 n-2=12-2=10 Slus4 71.478 51086.4 12-1-1 = 1-1-12-1=11 63061.3751084,4=1141,53 -3.53 0.083 4.21 Regression 63067.3 Significance F 12.3u32 0.005598142 Residual 51086.4 Total Intercept Time Standard Upper Coefficients Error t Stat P-value Lower 95% 95% -3.53 42.21 0.935 7.12 2.03 0.006 Based on the regression results, answer the following questions a) What is the estimated regression equation? b) What percentage of the variation in purchase amount is explained by time? c) What is the correlation between purchase amount and time? d) What is the standard error of the error term in the regression equation? e) Is the coefficient on the variable "time" statistically significantly different than 0 at the 5% level of significance? How do you know? f) What is the predicted purchase amount for a customer who has spent 30 minutes on the website?
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
Help please. I don't think I'm doing this right
Transcribed Image Text:3) Data were collected to explain the amount of a customer's purchase (expressed in $'s) based on the
amount of time the customer has spent on the company's website (expressed in minutes)
Complete the Table Below
(1-0.548)(12-1-1)
1-0,44730,5529
12-1
Regression
Statistics
Multiple R
0.552
R Square
Adjusted R Square
0,773
0.508
Standard Error
11.478
Observations
12
ANOVA
df
SS
MS
F
70.5527-01723/1
63,067,31-63067.3
n-2=12-2=10
Slus4 71.478
51086.4
12-1-1
=
1-1-12-1=11
63061.3751084,4=1141,53
-3.53 0.083
4.21
Regression
63067.3
Significance F
12.3u32 0.005598142
Residual
51086.4
Total
Intercept
Time
Standard
Upper
Coefficients
Error
t Stat
P-value
Lower 95%
95%
-3.53
42.21
0.935
7.12
2.03
0.006
Based on the regression results, answer the following questions
a) What is the estimated regression equation?
b) What percentage of the variation in purchase amount is explained by time?
c) What is the correlation between purchase amount and time?
d) What is the standard error of the error term in the regression equation?
e) Is the coefficient on the variable "time" statistically significantly different than 0 at the 5% level of
significance? How do you know?
f) What is the predicted purchase amount for a customer who has spent 30 minutes on the website?
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