An Internet retailer would like to investigate the relationship between the amount of time in minutes a purchaser spends on its Web site and the amount of money he or she spends on an order. The table to the right shows the data from a random sample of 12customers. Construct a 90% confidence interval for the regression slope. Order Size Time Order Size 17 $73 3 $60 14 $25 38 $365 26 $96 7 $126 22 $196 38 $158 1 $51 25 $76 12 $39 8 $252 Construct a 90% confidence interval for the slope. LCL= UCL= (Round to three decimal places as needed.)
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
| An Internet retailer would like to investigate the relationship between the amount of time in minutes a purchaser spends on its Web site and the amount of money he or she spends on an order. The table to the right shows the data from a random sample of 12customers. Construct a 90% confidence interval for the regression slope. |
|
Order Size
|
Time
|
Order Size
|
|
|
|---|---|---|---|---|
|
17
|
$73
|
3
|
$60
|
|
|
14
|
$25
|
38
|
$365
|
|
|
26
|
$96
|
7
|
$126
|
|
|
22
|
$196
|
38
|
$158
|
|
|
1
|
$51
|
25
|
$76
|
|
|
12
|
$39
|
8
|
$252
|
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