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: 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 $3.23 more money at the store.As x goes up, y goes up.Interpret the y-intercept in the context of the question:The average amount of money spent is predicted to be $4.75.The y-intercept has no practical meaning for this study.If a customer spends no time at the store, then that customer will spend $4.75.The best prediction for a customer who doesn't spend any time at the store is that the customer will spend $4.75.

The regression equation is Dollar Spent=4.75+3.23*Time spent When time spent is 11 minutes then…

Answered: Use the model to predict the amount of…

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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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:
- 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 $3.23 more money at the store.
- As x goes up, y goes up.
Interpret the y-intercept in the context of the question:
- The average amount of money spent is predicted to be $4.75.
- The y-intercept has no practical meaning for this study.
- If a customer spends no time at the store, then that customer will spend $4.75.
- The best prediction for a customer who doesn't spend any time at the store is that the customer will spend $4.75.

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