A grocery store manager did a study to look at the relationship between the amount of time (in minutes) customers spend in the store and the amount of money (in dollars) they spend. The results of the survey are shown below. Time108613191827107Money582541518481874515 Use the model to predict the amount of money spent by a customer who spends 11 minutes at the store.Dollars spent =______ (Please round your answer to the nearest whole number.) Interpret the slope of the regression line in the context of the question: Please select an answer.As x goes up, y goes up.The slope has no practical meaning since you cannot predict what any individual customer will spend.For every additional minute customers spend at the store, they tend to spend on averge $3.28 more money at the store.Interpret the y-intercept in the context of the question: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 $11.13.If a customer spends no time at the store, then that customer will spend $11.13.The average amount of money spent is predicted to be $11.13.

Given that ; X Y X \cdot YX⋅Y X^2X2 Y^2Y2 10 58 580 100 3364 8 25 200 64 625 6 41…

Answered: grocery store manager did a study to…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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A grocery store manager did a study to look at the relationship between the amount of time (in minutes) customers spend in the store and the amount of money (in dollars) they spend. The results of the survey are shown below.

Time	10	8	6	13	19	18	27	10	7
Money	58	25	41	51	84	81	87	45	15

Use the model to predict the amount of money spent by a customer who spends 11 minutes at the store.
Dollars spent =______ (Please round your answer to the nearest whole number.)
Interpret the slope of the regression line in the context of the question: Please select an answer.
- As x goes up, y goes up.
- The slope has no practical meaning since you cannot predict what any individual customer will spend.
- For every additional minute customers spend at the store, they tend to spend on averge $3.28 more money at the store.
Interpret the y-intercept in the context of the question:
- 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 $11.13.
- If a customer spends no time at the store, then that customer will spend $11.13.
- The average amount of money spent is predicted to be $11.13.