d. ² = e. Interpret ²: (Round to two decimal places) Given any group that spends a fixed amount of time at the store, 71% of all of those customers will spend the predicted amount of money at the store. 71% of all customers will spend the average amount of money at the store. 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 71%. There is a 71% 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. 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 17 minutes at the store. Dollars spent = (Please round your answer to the nearest whole number.) h. Interpret the slope of the regression line in the context of the question: O The slope has no practical meaning since you cannot predict what any individual customer will spend. As x goes up, y goes up. For every additional minute customers spend at the store, they tend to spend on averge $3.34 more money at the store. i. Interpret the y-intercept in the context of the question: If a customer spends no time at the store, then that customer will spend $14.52. The average amount of money spent is predicted to be $14.52. The y-intercept has no practical meaning for this study. The best prediction for a customer who doesn't spend any time at the store is that the customer will spend $14.52.
d. ² = e. Interpret ²: (Round to two decimal places) Given any group that spends a fixed amount of time at the store, 71% of all of those customers will spend the predicted amount of money at the store. 71% of all customers will spend the average amount of money at the store. 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 71%. There is a 71% 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. 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 17 minutes at the store. Dollars spent = (Please round your answer to the nearest whole number.) h. Interpret the slope of the regression line in the context of the question: O The slope has no practical meaning since you cannot predict what any individual customer will spend. As x goes up, y goes up. For every additional minute customers spend at the store, they tend to spend on averge $3.34 more money at the store. i. Interpret the y-intercept in the context of the question: If a customer spends no time at the store, then that customer will spend $14.52. The average amount of money spent is predicted to be $14.52. The y-intercept has no practical meaning for this study. The best prediction for a customer who doesn't spend any time at the store is that the customer will spend $14.52.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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Answer parts d through i
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