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It is necessary to prepare an answer with a detailed description of the use of linear regression and what depends on it. As much as
It is necessary to prepare an answer with a detailed description of the use of linear regression and what depends on it. As much as possible. I need the answer for a powerpoint presentation.
Relationship between the time spent in the web browser and the amount of money spent readfile summary (regression) call: Im(formula = Time - Amount, data = report) Residuals: Min 10 Median 3Q Max -8. 3544 -2.7713 -0. 5471 2.2849 13.3643 coefficients: Estimate sod. Error plot (reportsAmount, reportsTime, xlab = "Amount Spent", ylab . "Time sent in Browser") > abline(regression) Time sent in Browser 109 120 1:40 160 Amount SpentTest case description: Heavenly Chocolates website transactions Heavenly Chocolates manufacturers and sells quality chocolateproducts atits plant andretail store locatedin Saratoga Springs, New York. Two years ago, the company developed a website and began selling its products over the Intemet. Website sales have exceeded the company's expectations, andmanagement is now considering strategies to increase sales even further. To learn more about the website customers, a sample of 50 Heavenly Chocolate transactions was selected from the previous month's sales. Data showing the day of the week each transaction was made, the type of browser the customer used, the time spent on the website, the number of website pages viewed, and the amount spent by each of the 50 customers are contained in the file names Shoppers. Heavenly Chocolates would like to use the sample data to determine if online shoppers who spend more time and viewmore pages also spend more money during their visit to the website. The company would also like to investigate the effect that the day of the week and the type of browser have on sales. Use the methods of descriptive statistics to learn about the customers who visit the Heavenly Chocolates website. Describe the relationships between the time spent on the website and the dollar amount spent; the number of website pages viewed, and the amount spent; the time spent on the website and the number of pages viewed.68.10Comparing the s, = 4.99 and R 2 = 0,3365 we can confirm that the model doesn't fit well, meaning we can explain 33,65% of the variance even if the standard error is too high. Testing the model's validity using hypothesis approach: Ho: 81 = 62 =0 H,: At least one Bi is not 0 Looking at the F=2434, p-value =0,00000101 we can conclude, that Ho is rejected. We conclude that there's no relationship between the time spent on the web and the amount spent on the purchaseStep by Step Solution
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