3 linear regression

A grocery store manager did a study to look at the relationship between the amount of time (in minutes) customers spend in the store and the amount of money (in dollars) they spend. The results of the survey are shown below. Time 5 7 15 14 10 10 21 13 10 Money 44 20 56 55 37 47 97 42 33 a. Find the correlation coefficient: T = Round to 2 decimal places. b. The null and alternative hypotheses for correlation are: Ho: ? = 0 H1 : 2 +0 The p-value is: (Round to four decimal places) c. Use a level of significance of a - 0.05 to state the conclusion of the hypothesis test in the context of the study. O There is statistically significant evidence to conclude that a customer who spends more time at the store will spend more money than a customer who spends less time at the store. There is statistically insignificant evidence to conclude that a customer who spends more time at the store will spend more money than a customer who spends less time at the store. O There is statistically significant evidence to conclude that there is a correlation between the amount of time customers spend at the store and the amount of money that they spend at the store. Thus, the regression line is useful. There is statistically insignificant evidence to conclude that there is a correlation between the amount of time customers spend at the store and the amount of money that they spend at the store. Thus, the use of the regression line is not appropriate. d. 12 = (Round to two decimal places) e. Interpret r2 : There is a 73% 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. O 73% of all customers will spend the average amount of money at the store. O Given any group that spends a fixed amount of time at the store, 73% of all of those customers will spend the predicted amount of money at the store. O There is a large variation in the amount of money that customers spend at the store, but if you