Age The correlation between Total Yearly Purchases and Age is r = 0.037. Summary statistics for the two variables are: Mean SD 29.67 yr 8.51 yr Age Total Yearly Purchase $572.52 $253.62 a) What is the linear regression equation for predicting Total Yearly Purchase from Age? b) Do the assumptions and conditions for regression appear to be met? c) What is the predicted Total Yearly Purchase for an 18-year-old? For a 50-year-old?

MATLAB: An Introduction with Applications
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There’s two part to this question. It has parts A-E.
50
60
Age
gr
The correlation between Total Yearly Purchases and Age is
r = 0.037. Summary statistics for the two variables are:
re
Mean
SD
Age
29.67 yr
8.51 yr
70
Total Yearly Purchase
$572.52
$253.62
600
a) What is the linear regression equation for predicting Total
Yearly Purchase from Age?
b) Do the assumptions and conditions for regression appear to
500-
be met?
c) What is the predicted Total Yearly Purchase for an
18-year-old? For a 50-year-old?
d) What percent of the variability in Total Yearly Purchases is
accounted for by this model?
e) Do
400
you
think the regression might be a useful one for the
company? Explain.
a) Describe
52. Online clothes II For the online clothing retailer discussed in
the previous problem, the scatterplot of Total Yearly Purchases
by Income looks like this:
b) Are there
overall pa
c) For these
Math SAT
Transcribed Image Text:50 60 Age gr The correlation between Total Yearly Purchases and Age is r = 0.037. Summary statistics for the two variables are: re Mean SD Age 29.67 yr 8.51 yr 70 Total Yearly Purchase $572.52 $253.62 600 a) What is the linear regression equation for predicting Total Yearly Purchase from Age? b) Do the assumptions and conditions for regression appear to 500- be met? c) What is the predicted Total Yearly Purchase for an 18-year-old? For a 50-year-old? d) What percent of the variability in Total Yearly Purchases is accounted for by this model? e) Do 400 you think the regression might be a useful one for the company? Explain. a) Describe 52. Online clothes II For the online clothing retailer discussed in the previous problem, the scatterplot of Total Yearly Purchases by Income looks like this: b) Are there overall pa c) For these Math SAT
51. Online clothes An online clothing retailer keeps track of its
customers' purchases. For those customers who signed up for the
company's credit card, the company also has information on
the customer's Age and Income. A random sample of 500 of
these customers shows the following scatterplot of Total Yearly
Purchases by Age:
a)
b).
c) L
We
ar
1400
d) W
1200
ac
1000
e) Do
800
cor
600
53. SAT se
400
cation
200
have nc
SAT-Ma
the ques
the math
graduatin
regression
20
30
40
50
60
Age
The correlation between Total Yearly Purchases and Age is
r = 0.037. Summary statistics for the two variables are:
800
Total Yearly Purchases ($)
Transcribed Image Text:51. Online clothes An online clothing retailer keeps track of its customers' purchases. For those customers who signed up for the company's credit card, the company also has information on the customer's Age and Income. A random sample of 500 of these customers shows the following scatterplot of Total Yearly Purchases by Age: a) b). c) L We ar 1400 d) W 1200 ac 1000 e) Do 800 cor 600 53. SAT se 400 cation 200 have nc SAT-Ma the ques the math graduatin regression 20 30 40 50 60 Age The correlation between Total Yearly Purchases and Age is r = 0.037. Summary statistics for the two variables are: 800 Total Yearly Purchases ($)
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