d. ² = e. Interpret ²: (Round to two decimal places) Given any group that spends a fixed amount of time at the store, 71% of all of those customers will spend the predicted amount of money at the store. 71% of all customers will spend the average amount of money at the store. 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 71%. There is a 71% 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. 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 17 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: O The slope has no practical meaning since you cannot predict what any individual customer will spend. As x goes up, y goes up. For every additional minute customers spend at the store, they tend to spend on averge $3.34 more money at the store. i. Interpret the y-intercept in the context of the question: If a customer spends no time at the store, then that customer will spend $14.52. The average amount of money spent is predicted to be $14.52. The y-intercept has no practical meaning for this study. The best prediction for a customer who doesn't spend any time at the store is that the customer will spend $14.52.
d. ² = e. Interpret ²: (Round to two decimal places) Given any group that spends a fixed amount of time at the store, 71% of all of those customers will spend the predicted amount of money at the store. 71% of all customers will spend the average amount of money at the store. 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 71%. There is a 71% 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. 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 17 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: O The slope has no practical meaning since you cannot predict what any individual customer will spend. As x goes up, y goes up. For every additional minute customers spend at the store, they tend to spend on averge $3.34 more money at the store. i. Interpret the y-intercept in the context of the question: If a customer spends no time at the store, then that customer will spend $14.52. The average amount of money spent is predicted to be $14.52. The y-intercept has no practical meaning for this study. The best prediction for a customer who doesn't spend any time at the store is that the customer will spend $14.52.
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
Answer parts d through i
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps with 2 images
Recommended textbooks for you
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman