The American Express Company commissioned a study to determine the relationship between travel and charges on the American Express card. Researchers selected a random sample of 10 cardholders from American Express' computer file and recorded their total charges (in dollars) over a specified period of time. A questionnaire sent to those cardholders revealed the total number of miles traveled by each cardholder during the same period of time. The data for this study is given in the table. Miles traveled 1345 1687 2026 2400 2699 3082 4267 4498 5090 5439 Amount charged ($) 2405 2511 2305 3090 3371 3555 5738 6420 6321 6964 a. Identify the explanatory and response<\/p>
b. Provide a scatter plot for the data. variables that are most reasonable for Label the axes appropriately. this problem. c. Find the equation for the least-squares regression line. Report the values of the correlation coefficient r, r2, and the slope. d. Describe the strength and direction of the linear relationship between the variables miles traveled and amount charged, and give the reason for your description (considering the values of r and the slope).e. Interpret the values of the slope and r2. f. Give the y-intercept and interpret its meaning. g. Based on the regression equation, what's the estimated number of miles traveled by a cardholder who charged $4000 to their card over this time period? Show all work. <\/p>
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<\/p>", "transcribed_text": "", "related_book": { "title": "Managerial Accounting Tools for business decision making", "isbn": "470506954, 471345881, 978-0470506950, 9780471345886, 978-0470477144", "edition": "5th edition", "authors": "Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/144.jpg", "uri": "\/textbooks\/managerial-accounting-tools-for-business-decision-making-5th-edition-144", "see_more_uri": "" }, "free_related_book": { "isbn": "0521006015", "uri": "\/textbooks\/a-course-in-combinatorics-2nd-edition-9780521006019", "name": "A Course In Combinatorics", "edition": "2nd\u00a0Edition" }, "question_posted": "2024-05-19 10:10:46", "see_more_questions_link": "\/study-help\/questions\/sciences-chemistry-2023-March-09", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/questions\/please-help-me-with-these-questions-thank-you-question-1-2476606", "description": "please help me with these questions thank you QUESTION 1 In conjunction with the housing foreclosure crisis of 2009, many economists expressed increasing concern about the level of credit card debt...", "stars": 0 }, { "url": "\/study-help\/questions\/please-use-this-format-use-filename-use-digital-symbol-filename-3880040", "description": "please use this format Use filename (use digital symbol) filename 1 .. 10 name file 2 1 .. 10 \\fBack Common Functions Graded Quiz - 30 min . 10 total points Due Sep 4, 11:59 PM WIB 1. h(z) = 51 1...", "stars": 0 }, { "url": "\/study-help\/questions\/q1-review-case-study-1-understanding-your-employee-benefits-investing-2707970", "description": "Q1. review case study #1 Understanding Your Employee Benefits: Investing in your Retirement found on page 123 of your textbook. 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