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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?

Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section5.6: Exponential And Logarithmic Equations
Problem 14E
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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?
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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