It has been argued that a shopper can have too many choices when considering a major purchase, leading to increased shopping anxiety. (See, for example, The Paradox of Choice Why More Is Less by Barry Schwartz.) In a study of shopping behavior, simple linear regression was used to link the number of alternatives presented to a shopper and the shopper’s score on a scale measuring the shopper’s confidence that he/ she has made the right purchase choice. Data for the study are given below:
Show the data in a scatter diagram and use the least squares criterion to find the slope (b = ====) and the intercept (a) for the best fitting line. Sketch the least squares line in your scatter diagram. Use the line to estimate the change in score that can be associated with each additional choice presented.