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) Based on the regression results, answer the following questions 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?

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question
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) Based on the regression results, answer the following questions 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 ourchase (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
Regression
Statistics
Multiple R
R Square
Adjusted R Square
0.508
Standard Error
Observations
12
ANOVA
df
SS
MS
F
Significance F
Regression
63067.3
0.005598142
Residual
51086.4
Total
Standard
Error
Upper
95%
Coefficients
t Stat
P-value
Lower 95%
Intercept
-3.53
42.21
0.935
Time
7.12
2.03
0.006
Transcribed Image Text:3) Data were collected to explain the amount of a customer's ourchase (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 Regression Statistics Multiple R R Square Adjusted R Square 0.508 Standard Error Observations 12 ANOVA df SS MS F Significance F Regression 63067.3 0.005598142 Residual 51086.4 Total Standard Error Upper 95% Coefficients t Stat P-value Lower 95% Intercept -3.53 42.21 0.935 Time 7.12 2.03 0.006
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
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 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…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
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
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman