Constant/intercept (b0) = Coefficient/slope of Age (X1) (b1) = Coefficient/slope of Gender (X2) (b2) = Considering the regression coefficients (slope) for age and gender, which of the following statements is correct? Enter the statement number 1, 2, or 3 corresponding to the correct statement in the answer text box below. Among the male customers, the younger customers on the average spend more time at the ATM machine. The male customers on the average spend less time at the ATM machine than the female customers. Among the customers with the same age, the male customers on the average spend less time at the ATM machine than the female customers. The answer (1/2/3) is: What is the estimated time required by a female customer who is 45 years of age? Enter your answer in xx.xx format. Round the value to two decimals and use leading and trailing zero to exactly match the format. Include the negative sign (minus sign) if the answer is negative. Do not include plus sign in your response. For example, if the answer is +6.1563 then enter 06.16, if the answer is -0.54765 then enter -00.55 and if the answer is 6.1 then enter 06.10 Your answer is = Determine 95% prediction interval for the time required by the customer described in part (c). Enter your answer in xx.xx format. Round the value to two decimals and use leading and trailing zero to exactly match the format. Include the negative sign (minus sign) if the answer is negative. Do not include plus sign in your response. For example, if the answer is +6.1563 then enter 06.16, if the answer is -0.54765 then enter -00.55 and if the answer is 6.1 then enter 06.10 The upper limit of the prediction interval is: The lower limit of the prediction interval is: Determine 99% confidence interval for the mean time required by customers similar to one described in part (c). Enter your answer in xx.xx format. Round the value to two decimals and use leading and trailing zero to exactly match the format. Include the negative sign (minus sign) if the answer is negative. Do not include plus sign in your response. For example, if the answer is +6.1563 then enter 06.16, if the answer is -0.54765 then enter -00.55 and if the answer is 6.1 then enter 06.10 The upper limit of the confidence interval is: The lower limit of the confidence interval is: What is the coefficient of determination? Enter your answer in percentage and round it to the nearest integer. Do not include % sign in your answer. The answer is: With 95% confidence level (0.05 significance level), does the sample data suggest that the age of customer is a significant variable in explaining the time the customer spends at the ATM machine? Enter “Y” if data suggests that the variable is significant and enter “N” if data does not suggest that the variable is significant. The answer (Y/N) is: With 95% confidence level (0.05 significance level), does the sample data suggest that the customer gender is a significant variable in explaining the time the customer spends at the ATM machine? Enter “Y” if data suggests that the variable is significant and enter “N” if data does not suggest that the variable is significant. The answer (Y/N) is:
Correlation
Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.
Linear Correlation
A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.
Regression Analysis
Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.
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