Data were collected to explain the amount of a customer’s purchase (expressed in $’s) based on the amount of time the customer has spent on the company’s website (expressed in minutes) Based on the regression results, answer the following questions d) What is the standard error of the error term in the regression equation? e) Is the coefficient on the variable “time” statistically significantly different than 0 at the 5% level of significance? How do you know? f) What is the predicted purchase amount for a customer who has spent 30 minutes on the website?
Data were collected to explain the amount of a customer’s purchase (expressed in $’s) based on the amount of time the customer has spent on the company’s website (expressed in minutes) Based on the regression results, answer the following questions d) What is the standard error of the error term in the regression equation? e) Is the coefficient on the variable “time” statistically significantly different than 0 at the 5% level of significance? How do you know? f) What is the predicted purchase amount for a customer who has spent 30 minutes on the website?
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Data were collected to explain the amount of a customer’s purchase (expressed in $’s) based on the amount of time the customer has spent on the company’s website (expressed in minutes)
Based on the regression results, answer the following questions
d) What is the standard error of the error term in the regression equation?
e) Is the coefficient on the variable “time” statistically significantly different than 0 at the 5% level of significance? How do you know?
f) What is the predicted purchase amount for a customer who has spent 30 minutes on the website?
Transcribed Image Text:3)
Data were collected to explain the amount of a customer's ourchase (expressed in $'s) based on the
amount of time the customer has spent on the company's website (expressed in minutes)
Complete the Table Below
Regression
Statistics
Multiple R
R Square
Adjusted R Square
0.508
Standard Error
Observations
12
ANOVA
df
SS
MS
F
Significance F
Regression
63067.3
0.005598142
Residual
51086.4
Total
Standard
Error
Upper
95%
Coefficients
t Stat
P-value
Lower 95%
Intercept
-3.53
42.21
0.935
Time
7.12
2.03
0.006
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