Suppose the Internet retailer Buy.com would like to investigate the linear relationship between the amount of time

Question:

Suppose the Internet retailer Buy.com would like to investigate the linear 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 following table shows the data from a random sample of 12 customers and can also be found in the Excel file Buy.com.xlsx.

Time Order Size ($) Time Order Size ($)

18 69 5 58 13 26 37 365 26 94 6 127 23 199 36 160 2 49 24 75 14 38 9 250

a. Construct a scatter plot for these data using Excel.

b. Using a = 0.05, determine if the slope for the regression equation is statistically significant.

c. What conclusions can be drawn about a purchaser’s time on the Web site and his or her order size?

AppendixLO1

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Related Book For  book-img-for-question

Business Statistics

ISBN: 9780133852288

2nd Edition

Authors: Robert A Donnelly, Robert Donnelly Jr

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