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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 | ||||||||||||
Use Data > Data Analysis > Correlation to compute the correlation checking the Labels checkbox. | |||||||||||||
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. | |||||||||||||
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: | |||||||||||||
a) Intercept = | |||||||||||||
b) Slope = | |||||||||||||
c) R2 = | |||||||||||||
Perform Data > Data Analysis > Regression. | |||||||||||||
Highlight the Y-intercept with yellow. Highlight the X variable in blue. Highlight the R Square in orange | |||||||||||||
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. | |||||||||||||
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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