The correlation between Total Yearly Purchases and Age is r = 0.037. Summary statistics for the two variables are: Mean SD Age 29.67 yr 8.51 yr Total Yearly Purchase $572.52 $253.62 a) What is the linear regression equation for predicting Total Yearly Purchase from Age? b) Do the assumptions and conditions for regression appear to be met? c) What is the predicted Total Yearly Purchase for an 18-year-old? For a 50-year-old? d) What percent of the variability in Total Yearly Purchases is accounted for by this model? e) Do you think the regression might be a useful one for the company? Explain.
The correlation between Total Yearly Purchases and Age is r = 0.037. Summary statistics for the two variables are: Mean SD Age 29.67 yr 8.51 yr Total Yearly Purchase $572.52 $253.62 a) What is the linear regression equation for predicting Total Yearly Purchase from Age? b) Do the assumptions and conditions for regression appear to be met? c) What is the predicted Total Yearly Purchase for an 18-year-old? For a 50-year-old? d) What percent of the variability in Total Yearly Purchases is accounted for by this model? e) Do you think the regression might be a useful one for the company? Explain.
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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Question
I only need help on part D and E it’s all one questions , Not graded , I don’t understand it.
Transcribed Image Text:uie
graduating class are
regression line addec
The correlation between Total Yearly Purchases and Age is
r = 0.037. Summary statistics for the two variables are:
800 +
Mean
SD
Age
29.67 yr
8.51 yr
700
Total Yearly Purchase
$572.52
$253.62
600
a) What is the linear regression equation for predicting Total
Yearly Purchase from Age?
b) Do the assumptions and conditions for regression appear to
500
be met?
c) What is the predicted Total Yearly Purchase for an
18-year-old? For a 50-year-old?
d) What percent of the variability in Total Yearly Purchases is
accounted for by this model?
400
400
e) Do you think the regression might be a useful one for the
company? Explain.
52. Online clothes II For the online clothing retailer discussed in
the previous problem, the scatterplot of Total Yearly Purchases
by Income looks like this:
a) Describe the relation
b) Are there any studen
overall pattern?
c) For these data, r = C
d) These verbal scores a
tion of 99.5, and the
1400
standard deviation of
1200
sion line predicting m
e) Interpret the slope of
f) Predict the math score
1000
800
600
500
Purchases ($)
Math SAT
Transcribed Image Text:Section 7.5
P Pearson+
ses/6018339/products/124333/pages/253?locale=&platformld=1030&iesCodeD
Chapter 7 Linear Regr
51. Online clothes An online clothing retailer keeps track of its
customers' purchases. For those customers who signed up for the
company's credit card, the company also has information on
the customer's Age and Income. A random sample of 500 of
these customers shows the following scatterplot of Total Yearly
Purchases by Age:
1400
1200
1000
e)
800
600
53. SA
400
cati
200
hav
SAT
the
20
30
40
50
60
the r
Age
grad
The correlation between Total Yearly Purchases and Age is
r = 0.037. Summary statistics for the two variables are:
regre
800
Mean
SD
Age
29.67 yr
8.51 yr
700
Total Yearly Purchase
$572.52
$253.62
600
a) What is the linear regression equation for predicting Total
Yearly Purchase from Age?
b) Do the assumptions and conditions for regression appear to
500 +
be met?
c) What is the predicted Total Yearly Purchase for an
18-year-old? For a 50-year-old?
400
Total Yearly Purchases ($)
Math SAT
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