A department store associate wants to find out if there is a relationship (and what kind of relationship) between the price of an item and the time that it takes to a customer to decide in buying that item.

Item Price (x)

Decision Time (in minutes) (Y)

$25

12

$20

8

$300

37

$80

20

$72

15

$25

10

$17

9

$63

14

$140

20

$250

30

$10

4

$8

5

$170

27

$280

28

NOTE: you might be able to get all the necessary information from the scatter plot.You don't need to do computations by applying the numeric formula.

a.Using Excel construct a scatter plot.Discuss the output of the scatter plot.

b.Give (or calculate) the correlation coefficient.

c.Give (or calculate) the coefficient of determination.

d.Give (or calculate) the regression equation coefficients; Give the equation of regression.

e. (very important)

Based on the above values, in detail draw the conclusion:

Discuss the correlation coefficient r

Discuss the coefficientof determination r²

Discuss in detail the meaning of the regression equation

How long the decision of buying will take if the item costs $90.00?

A department store associate wants to find out if there is a relationship (and what kind of relationship) between the price of an item and the time that it takes to a customer to decide in buying that item. Item Price (x) Decision Time (in minutes) (Y) $25 12 $20 8 $300 37 $80 20 $72 15 $25 10 $17 9 $63 14 $140 20 $250 30 $10 4 $8 5 $170 27 $280 28 NOTE: you might be able to get all the necessary information from the scatter plot. You don't need to do computations by applying the numeric formula. a. Using Excel construct a scatter plot. Discuss the output of the scatter plot. b. Give (or calculate) the correlation coefficient. c. Give (or calculate) the coefficient of determination. d. Give (or calculate) the regression equation coefficients; Give the equation of regression. e. (very important) Based on the above values, in detail draw the conclusion: Discuss the correlation coefficient r Discuss the coefficient of determination r Discuss in detail the meaning of the regression equation How long the decision of buying will take if the item costs $90.00