Studies have shown that the frequency with which shoppers browse Internet retailers is related to the frequency with which they actually purchase…

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1Use Data > Data Analysis > Correlation to compute the correlation checking the Labels checkbox.

2Use the Excel function =CORREL to compute the correlation. If answers for #1 and 2 do not agree, there is an error.

3The strength of the correlation motivates further examination.

a) Insert Scatter (X, Y) plot linked to the data on this sheet with Age on the horizontal (X) axis.

b) Add to your chart: the chart name, vertical axis label, and horizontal axis label.

c) Complete the chart by adding Trendline and checking boxes

Place Equations on chart

Place R-squared on chart

4Read directly from the chart:

a) Intercept =

b) Slope =

c) R2 =

5Perform Data > Data Analysis > Regression.

6Read the standard error in the regression output?

7Based on the regression output, what is the equation of the regression line?

8Use Excel to predict the number of minutes spent by a 40-year old shopper. Enter = followed by the regression formula.

Enter the intercept and slope into the formula by clicking on the cells in the regression output with the results.

 

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Studies have shown that the frequency with which shoppers browse Internet retailers is related to the frequency with which they actually purchase… was first posted on October 8, 2020 at 4:51 pm.
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