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shown below. Time Money 16 7 13 28 81 19 17 12 78 50 27 82 21 17 83 101 Round to 2 decimal places. a. Find the correlation coefficient: r = b. The null and alternative hypotheses for correlation are: Ho:? =0 H₁: ? #0 The p-value is: (Round to four decimal places) c. Use a level of significance of a = 0.05 to state the conclusion of the hypothesis test in the context of the study. There is statistically insignificant evidence to conclude that a customer who spends more time at the store will spend more money than a customer who spends less time at the store. O There is statistically significant evidence to conclude that a customer who spends more time at the store will spend more money than a customer who spends less time at the store. O There is statistically significant evidence to conclude that there is a correlation between the amount of time customers spend at the store and the amount of money that they spend at the store. Thus, the regression line is useful. O There is statistically insignificant evidence to conclude that there is a correlation between the amount of time customers spend at the store and the amount of money that they spend at the store Thur the use of the regression ling is not appropriato

shown below. Time Money 16 7 13 28 81 19 17 12 78 50 27 82 21 17 83 101 Round to 2 decimal places. a. Find the correlation coefficient: r = b. The null and alternative hypotheses for correlation are: Ho:? =0 H₁: ? #0 The p-value is: (Round to four decimal places) c. Use a level of significance of a = 0.05 to state the conclusion of the hypothesis test in the context of the study. There is statistically insignificant evidence to conclude that a customer who spends more time at the store will spend more money than a customer who spends less time at the store. O There is statistically significant evidence to conclude that a customer who spends more time at the store will spend more money than a customer who spends less time at the store. O There is statistically significant evidence to conclude that there is a correlation between the amount of time customers spend at the store and the amount of money that they spend at the store. Thus, the regression line is useful. O There is statistically insignificant evidence to conclude that there is a correlation between the amount of time customers spend at the store and the amount of money that they spend at the store Thur the use of the regression ling is not appropriato

MATLAB: An Introduction with Applications
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 amo minutes) customers spend in the store and the amount of money (in dollars) they spend. The results of the survey are shown below. Time Money 16 7 81 19 13 17 12 27 21 17 28 78 50 82 101 83 Round to 2 decimal places. a. Find the correlation coefficient: r = b. The null and alternative hypotheses for correlation are: Ho:? =0 H₁: ? 0 The p-value is: (Round to four decimal places) c. Use a level of significance of a = 0.05 to state the conclusion of the hypothesis test in the context of the study. There is statistically insignificant evidence to conclude that a customer who spends more time at the store will spend more money than a customer who spends less time at the store. O There is statistically significant evidence to conclude that a customer who spends more time at the store will spend more money than a customer who spends less time at the store. O There is statistically significant evidence to conclude that there is a correlation between the amount of time customers spend at the store and the amount of money that they spend at the store. Thus, the regression line is useful. There is statistically insignificant evidence to conclude that there is a correlation between the amount of time customers spend at the store and the amount of money that they spend at the store. Thus, the use of the regression line is not appropriate. (Round to two decimal places) d. e. Interpret 7²: O 63% of all customers will spend the average amount of money at the store. O There is a 63% 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. O Given any group that spends a fixed amount of time at the store, 63% of all of those customers will spend the predicted amount of money at the store. O 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 63%. 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 20 minutes at the store. (Please round your answer to the nearest whole number.) Dollars spent = h. Interpret the slope of the regression line in the context of the question:
Transcribed Image Text:A grocery store manager did a study to look at the relationship between the amo minutes) customers spend in the store and the amount of money (in dollars) they spend. The results of the survey are shown below. Time Money 16 7 81 19 13 17 12 27 21 17 28 78 50 82 101 83 Round to 2 decimal places. a. Find the correlation coefficient: r = b. The null and alternative hypotheses for correlation are: Ho:? =0 H₁: ? 0 The p-value is: (Round to four decimal places) c. Use a level of significance of a = 0.05 to state the conclusion of the hypothesis test in the context of the study. There is statistically insignificant evidence to conclude that a customer who spends more time at the store will spend more money than a customer who spends less time at the store. O There is statistically significant evidence to conclude that a customer who spends more time at the store will spend more money than a customer who spends less time at the store. O There is statistically significant evidence to conclude that there is a correlation between the amount of time customers spend at the store and the amount of money that they spend at the store. Thus, the regression line is useful. There is statistically insignificant evidence to conclude that there is a correlation between the amount of time customers spend at the store and the amount of money that they spend at the store. Thus, the use of the regression line is not appropriate. (Round to two decimal places) d. e. Interpret 7²: O 63% of all customers will spend the average amount of money at the store. O There is a 63% 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. O Given any group that spends a fixed amount of time at the store, 63% of all of those customers will spend the predicted amount of money at the store. O 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 63%. 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 20 minutes at the store. (Please round your answer to the nearest whole number.) Dollars spent = h. Interpret the slope of the regression line in the context of the question:
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