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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 products and/or services
Studies have shown that the frequency with which shoppers browse Internet retailers is related to the frequency with which they actually purchase products and/or services online. The following data show respondents age and answer to the question "How many minutes do you browse online retailers per year?" | ||||||||||||||||
Age (X) | Time (Y) | |||||||||||||||
16 | 420 | |||||||||||||||
17 | 269 | |||||||||||||||
19 | 315 | |||||||||||||||
22 | 337 | |||||||||||||||
22 | 243 | |||||||||||||||
22 | 459 | |||||||||||||||
22 | 414 | |||||||||||||||
28 | 224 | |||||||||||||||
28 | 381 | |||||||||||||||
28 | 412 | |||||||||||||||
28 | 576 | |||||||||||||||
30 | 333 | |||||||||||||||
33 | 551 | |||||||||||||||
34 | 548 | |||||||||||||||
35 | 626 | |||||||||||||||
35 | 521 | |||||||||||||||
35 | 562 | |||||||||||||||
36 | 699 | |||||||||||||||
39 | 643 | |||||||||||||||
39 | 455 | |||||||||||||||
40 | 666 | |||||||||||||||
42 | 553 | |||||||||||||||
43 | 459 | |||||||||||||||
44 | 525 | |||||||||||||||
48 | 559 | |||||||||||||||
50 | 507 | |||||||||||||||
50 | 612 | |||||||||||||||
51 | 710 | |||||||||||||||
52 | 378 | |||||||||||||||
54 | 566 | |||||||||||||||
58 | 652 | |||||||||||||||
59 | 725 | |||||||||||||||
60 | 695 | |||||||||||||||
10) | Use Data > Data Analysis > Correlation to compute the correlation checking the Labels checkbox. | |||||||||||||||
11) | Use the Excel function =CORREL to compute the correlation. If answers for #1 and 2 do not agree, there is an error. | |||||||||||||||
The strength of the correlation motivates further examination. | ||||||||||||||||
12) | 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 | ||||||||||||||||
Read directly from the chart: | ||||||||||||||||
13) | a) Intercept = | |||||||||||||||
b) Slope = | ||||||||||||||||
c) R2 = | ||||||||||||||||
Perform Data > Data Analysis > Regression. | ||||||||||||||||
14) | Highlight the Y-intercept with yellow. Highlight the X variable in blue. Highlight the R Square in orange | |||||||||||||||
15) | Use Excel to predict the number of minutes spent by a 22-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. | ||||||||||||||||
16) | Is it appropriate to use this data to predict the amount of time that a 9-year-old will be on the Internet? | |||||||||||||||
If yes, what is the amount of time, if no, why? | ||||||||||||||||
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