An Internet retailer would like to investigate the relationship between the amou

Question

An Internet retailer would like to investigate the relationship between the amount of time in minutes a purchaser spends on its Web site and the amount of money he or she spends on an order. The table to the right shows the data from a random sample of 12 customers. Construct a 95% confidence interval for the regression slope. Time Order Size Time Order Size 16 12 25 23 S67 S26 S98 $195 $47 $36 $55 $365 $126 $164 $79 $247 4 37 37 26 13 Construct a 95% confidence interval for the slope LCL= ? and UCL-mal laces as needed.) (Round to three decimal places as needed.)

Explanation / Answer

X: Independent variable = Time

Y: Dependent variable = Order Size

We can solve this question using excel.

First, enter data into excel.

Click on Data -------> Data Analysis --------> Regression ------->

Input

Input Y Range : select y values

Input X Range :select values of x.

Output Range: select an empty cell

---------> ok

We get

So we get 95% confidence interval ( - 0.574 , 9.475)

LCL = - 0.574 and UCL = 9.475

SUMMARY OUTPUT Regression Statistics Multiple R 0.529431 R Square 0.280298 Adjusted R Square 0.208327 Standard Error 90.50731 Observations 12 ANOVA df SS MS F Significance F Regression 1 31903.18 31903.18 3.894634 0.076699 Residual 10 81915.74 8191.574 Total 11 113818.9 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0% Intercept 47.90885 47.17126 1.015636 0.333745 -57.1953 153.013 -57.1953 153.013 Time 4.45021 2.255003 1.973483 0.076699 -0.57425 9.474669 -0.57425 9.474669

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