Case summary: After running diagnostic analysis on Dillard's transactions, you have found that there is a statistically significance difference between the amount of money customers spend in online transactions versus in-person transaction. You decide to take this a step further and design a predictive model to help determine how much a customer will spend based on the transaction type (online or in-person). You will run a simple regression to create a predictive model using one explanatory variable in Part 1 and in Part 2 you will extend your analysis to add in an additional explanatory variable- tender type( the method of payment the customer chooses)

Questions:

1) Using the regression formula, what is the predicted amount a customer will spend on an online transaction?

2) how would you interpret the results of your analysis of Q1 in plain english? what does it imply to have both very low R square value and very low significance F value or p-value?

Query1 570,061 rows loaded. Query1 570,061 rows loaded