Data were collected to explain the amount of a customer’s purchase (expressed in $’s) based on the amount of time the customer has spent on the company’s website (expressed in minutes) *COMPLETE THE DATA TABLE BELOW* f) To determine the predicted purchase amt fora cUstomer who has spent30 minutesthe website ?theresultsThe regression equation bafedニ -3.53+7,12xic purcha s-3.53+1.12 timeSubstitute time =30 inthe equationPurchase =-3.53+7.12 time-3. 53+7,1230=~3,53+213,63ニ$210,07 3) Data were collected to explain the amount of a customer's purchase (expressed in $'s) based on theamount of time the customer has spent on the company's website (expressed in minutes)Complete the Table BelowRegressionStatisticsMultiple RR SquareAdjusted R SquareStandard Error0,508Observations12ANOVASignificance F0.005598142dfMSF63067.3RegressionResidual51086.4TotalStandardErrorUpper95%Coefficientst StatP-valueLower 95%Intercept-3.5342.210.935Time7.122.030.006Based on the regression results, answer the following questionsa) What is the estimated regression equation?Intercept : -3,53cstreg equitime = 7, 12b) What percentage of the variation in purchase amount is explained by time?STOpel here its time)Y = -3,53+7,12XAdjusted rquare= 0.5080,50X 100 '/5o, 87,c) What is the correlation between purchase amount and time?R -Squared (R2) = 6.S0gcorrelation (r) r=r=correlatioa btwn purchamount andtime0.4127r = 0, SG8r =0. 17d) What is the standard error of the error term in the regression equatiðn?'SE =SSResidualde - SI086,412-2=5108.64 =71,475e) Is the coefficient on the variable “time" statistically significantly different than 0 at the 5% level ofsignificance? How do you know?yes, the variable time,s Sig dif from ø at SCo rresd= 0.05Ievelbecause the R-valueis less than Sig levelf) What is the predicted purchase amount for a customer who has spent 30 minutes on the website?ingSigis 0,.00c, which..to time5

Question

Data were collected to explain the amount of a customer’s purchase (expressed in $’s) based on the amount of time the customer has spent on the company’s website (expressed in minutes)  *COMPLETE THE DATA TABLE BELOW* f) To determine the predicted purchase amt fora cUstomer who has spent30 minutesthe website ?theresultsThe regression equation bafedニ -3.53+7,12xic purcha s-3.53+1.12 timeSubstitute time =30 inthe equationPurchase =-3.53+7.12 time-3. 53+7,1230=~3,53+213,63ニ$210,07 3) Data were collected to explain the amount of a customer's purchase (expressed in $'s) based on theamount of time the customer has spent on the company's website (expressed in minutes)Complete the Table BelowRegressionStatisticsMultiple RR SquareAdjusted R SquareStandard Error0,508Observations12ANOVASignificance F0.005598142dfMSF63067.3RegressionResidual51086.4TotalStandardErrorUpper95%Coefficientst StatP-valueLower 95%Intercept-3.5342.210.935Time7.122.030.006Based on the regression results, answer the following questionsa) What is the estimated regression equation?Intercept : -3,53cstreg equitime = 7, 12b) What percentage of the variation in purchase amount is explained by time?STOpel here its time)Y = -3,53+7,12XAdjusted rquare= 0.5080,50X 100 '/5o, 87,c) What is the correlation between purchase amount and time?R -Squared (R2) = 6.S0gcorrelation (r) r=r=correlatioa btwn purchamount andtime0.4127r = 0, SG8r =0. 17d) What is the standard error of the error term in the regression equatiðn?'SE =SSResidualde - SI086,412-2=5108.64 =71,475e) Is the coefficient on the variable “time&#34; statistically significantly different than 0 at the 5% level ofsignificance? How do you know?yes, the variable time,s Sig dif from ø at SCo rresd= 0.05Ievelbecause the R-valueis less than Sig levelf) What is the predicted purchase amount for a customer who has spent 30 minutes on the website?ingSigis 0,.00c, which..to time5

Accepted Answer

The df of Regression is given by p which is equal to 1 here , since there is only one explanatory…