The file Online contains a random sample of 48 customers who made purchases last quarter from an online retailer. The file contains information related to the time each customer spent viewing the online catalog and the dollar amount of purchases made. The retailer would like to analyze the sample data to determine whether a relationship exists between the time spent viewing the online catalog and the dollar amount of purchases.
a. Compute the regression equation based on these sample data and interpret the regression coefficients.
b. Compute the coefficient of determination and interpret its meaning.
c. Test the significance of the overall regression model using a significance level of 0.01.
d. Test to determine whether the true regression slope coefficient is equal to 0. Use a significance level of 0.01 to conduct the hypothesis test.