A grocery store manager did a study to look at the relationship between the amount of time (in minutes) customers spend in the store and the amount of money (in dollars) they spend. The results of the survey are shown below. 21 8 Time Money 30 5 99 23 28 18 94 77 14 70 97 29 a. Find the correlation coefficient: r 0.93 ✓ Round to 2 decimal places. b. The null and alternative hypotheses for correlation are: Ho: p 0 H₁ P 0 8 The p-value is: 0.0020 ✔ (Round to four decimal places) c. Use a level of significance of a = 0.05 to state the conclusion of the hypothesis test in the context of the study. There is statistically insignificant evidence to conclude that a customer who spends more time at the store will spend more money than a customer who spends less time at the store. idence to conclude that there is a correlation between the that they spend at the

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A grocery store manager did a study to look at the relationship between the amount of time (in minutes)
customers spend in the store and the amount of money (in dollars) they spend. The results of the survey
are shown below.
Time
30 5
14 21 8
28 18
94 77
Money
99
23
70
97 29
a. Find the correlation coefficient: r
0.93
✓ Round to 2 decimal places.
b. The null and alternative hypotheses for correlation are:
Ho: P
0
H₁: p
#0
8⁰
OF
The p-value is:
0.0020
(Round to four decimal places)
c. Use a level of significance of a = 0.05 to state the conclusion of the hypothesis test in the context
of the study.
There is statistically insignificant evidence to conclude that a customer who spends more time
at the store will spend more money than a customer who spends less time at the store.
vidence to conclude that there is a correlation between the
that they spend at the
Transcribed Image Text:gs A grocery store manager did a study to look at the relationship between the amount of time (in minutes) customers spend in the store and the amount of money (in dollars) they spend. The results of the survey are shown below. Time 30 5 14 21 8 28 18 94 77 Money 99 23 70 97 29 a. Find the correlation coefficient: r 0.93 ✓ Round to 2 decimal places. b. The null and alternative hypotheses for correlation are: Ho: P 0 H₁: p #0 8⁰ OF The p-value is: 0.0020 (Round to four decimal places) c. Use a level of significance of a = 0.05 to state the conclusion of the hypothesis test in the context of the study. There is statistically insignificant evidence to conclude that a customer who spends more time at the store will spend more money than a customer who spends less time at the store. vidence to conclude that there is a correlation between the that they spend at the
ngs
OT
d. 2
e. Interpret ²
(Round to two decimal places)
There is a large variation in the amount of money that customers spend at the store, but if you
only look at customers who spend a fixed amount of time at the store, this variation on
average is reduced by 87%.
O Given any group that spends a fixed amount of time at the store, 87% of all of those customers
will spend the predicted amount of money at the store.
O There is a 87% chance that the regression line will be a good predictor for the amount of
money spent at the store based on the time spent at the store.
O 87% of all customers will spend the average amount of money at the store.
f. The equation of the linear regression line is:
y =
(Please show your answers to two decimal places)
g. Use the model to predict the amount of money spent by a customer who spends 16 minutes at the
store.
Dollars spent =
(Please round your answer to the nearest whole number.)
h. Interpret the slope of the regression line in the context of the question:
Transcribed Image Text:ngs OT d. 2 e. Interpret ² (Round to two decimal places) There is a large variation in the amount of money that customers spend at the store, but if you only look at customers who spend a fixed amount of time at the store, this variation on average is reduced by 87%. O Given any group that spends a fixed amount of time at the store, 87% of all of those customers will spend the predicted amount of money at the store. O There is a 87% chance that the regression line will be a good predictor for the amount of money spent at the store based on the time spent at the store. O 87% of all customers will spend the average amount of money at the store. f. The equation of the linear regression line is: y = (Please show your answers to two decimal places) g. Use the model to predict the amount of money spent by a customer who spends 16 minutes at the store. Dollars spent = (Please round your answer to the nearest whole number.) h. Interpret the slope of the regression line in the context of the question:
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