Given the graph and information, how would you interpret the correlation the correlation between customer age and net sales by each type of customer (regular/promotion)? Interpret them in terms of the relation between the change in age and the change in net sales. What can you conclude?

A First Course in Probability (10th Edition)
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ISBN:9780134753119
Author:Sheldon Ross
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Chapter1: Combinatorial Analysis
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Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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Given the graph and information, how would you interpret the correlation the correlation between customer age and net sales by each type of customer (regular/promotion)? Interpret them in terms of the relation between the change in age and the change in net sales. What can you conclude?

Age Promotional Net Sales Promotional
1
Age Promotional
Net Sales Promotional
-0.288203356
1
SUMMARY OUTPUT
Regression Statistics
Multiple R
R Square
0.288203356
0.083061174
Adjusted R Square
0.06957678
Standard Error
59.28557776
Observations
70
ANOVA
df
SS
MS
F
Significance F
Regression
1
21650.3405 21650.34 6.159800089
0.015544301
Residual
68
239005.0217
3514.78
Total
69
260655.3622
Coefficients
Standard Error
t Stat
P-value
Lower 95% Upper 95%ower 95.0%pper 95.0%
Intercept
144.8862635
19.69073935 7.358092 3.20057E-10
105.5940049 184.1785
105.594 184.1785
Age Promotional
-1.402961953
0.565278652 -2.48189 0.015544301 -2.530957941 -0.27497 -2.53096 -0.27497
Transcribed Image Text:Age Promotional Net Sales Promotional 1 Age Promotional Net Sales Promotional -0.288203356 1 SUMMARY OUTPUT Regression Statistics Multiple R R Square 0.288203356 0.083061174 Adjusted R Square 0.06957678 Standard Error 59.28557776 Observations 70 ANOVA df SS MS F Significance F Regression 1 21650.3405 21650.34 6.159800089 0.015544301 Residual 68 239005.0217 3514.78 Total 69 260655.3622 Coefficients Standard Error t Stat P-value Lower 95% Upper 95%ower 95.0%pper 95.0% Intercept 144.8862635 19.69073935 7.358092 3.20057E-10 105.5940049 184.1785 105.594 184.1785 Age Promotional -1.402961953 0.565278652 -2.48189 0.015544301 -2.530957941 -0.27497 -2.53096 -0.27497
Scatter Plot Promotional
350.00
300.00
250.00
200.00
Net Sales Prom otional
...... Linear (Net Sales Promotional)
150.00
100.00
50.00
0.00
10
20
30
40
50
60
70
Age
Transcribed Image Text:Scatter Plot Promotional 350.00 300.00 250.00 200.00 Net Sales Prom otional ...... Linear (Net Sales Promotional) 150.00 100.00 50.00 0.00 10 20 30 40 50 60 70 Age
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