Please create the graphs and charts including the scatter. Thank you

Studies have shown that the frequency with which shoppers browse Internet retailers is related to the frequency with which they actually purchase products and/or services online.The following data show respondents age and answer to the question "How many minutes do you browse online retailers per week?"

Age (X) Time (Y)

23 513

51 207

45 201

33 405

56 141

61 141

39 297

23 501

22 531

46 273

53 147

34 381

20 591

18 609

22 519

1 Use Data > Data Analysis > Correlation to compute the correlation checking the Labels checkbox.

2 Use the Excel function =CORREL to compute the correlation. If answers for #1 and 2 do not agree, there is an error.

3) The strength of the correlation motivates further examination.

a. Insert Scatter (X, Y) plot linked to the data on this sheet with Age on the horizontal (X) axis.

b. Add to your chart: the chart name, vertical axis label, and horizontal axis label.

c. Complete the chart by adding Trendline and checking boxes

Instructions Display Equaction on chart / Display R-squared value on chart

4) Read directly from the chart:

a) Intercept=

b) Slope=

c) R2 =

5) Perform Data > Data Analysis > Regression.

6) Read the standard error in the regression output?

7) Based on the regression output, what isthe equation of the regression line?

8) Use Excel to predict the number of minutes spent by a 40-year old shopper. Enter = followed by the regression formula. Enter the intercept and slope into the formula by clicking on the cells in the regression output with the results.

14) The correlation R measures the strength of the linear association of variables Y and X, and does not have a unit of measure, e.g. feet, acres, pounds, seconds. True or False

15) Based on the correlation computed earlier, does Time tends to increase with Age? True or False

16) The strength of the linear relationship between Age and Time is which one? weak, moderate, or strong

17) Highlight the 4 correct statements. Try not to mix up explanatory and response with dependent and independent.

X denotes the independent or response variable

X denotes the independent or explanatory variable

Y denotes the dependent or explanatory variable

Y denotes the dependent or response variable

x denotes an observed value of the independent variable

x denotes an observed value of the dependent variable

y denotes the mean value of observations of the response variable

18) The best fitting line minimizes the vertical distances from the points to the line. Hence, the Y coordinate of a point on the best fitting line provides an estimate or prediction

of Y at the value of the corresponding X coordinate. This process is called regression (to move backward) because

The estimate of Y will be closer to the mean in standard deviations than X is or

The estimate of Y will be farther from the mean in standard deviations than X is.

19) Highlight 4 assumptions pertaining to regression:

Scatter plot pattern is reasonably straight (Linearity)

No points lie far enough away to pull the line of best fit away from the main point pattern (Influence).

The plot does not fan out as x increases or decreases (Equal Spread)

Predict Y at a value of X within the range of the X data (Interpolation)

Predict Y at a value of X outside the range of the X data (Extrapolation)

The observations are independent (Independence)

20) Based on the data from problems 1-8, can Y be predicted for a person who is 80? yes or no

21) The "intercept" and "slope" completely define the best fitting line.

The intercept is the vertical distance from the origin (where the X and Y axes intersect) up or down to the line. It sets the elevation of the line. True or False

22) As a positively signed slope increases which of the following is correct and why?

The whole line moves up without rotating

The whole line moves down without rotating

The line rotates clockwise becoming less steep

The line rotates counterclockwise becoming more steep

23) Based on the data from problems 1-8, when Age increases by 1 year, Time decreases by which of the following?

0.97 32.10 750.02 11.503

24) R² measures the fit of the line to the points. As R² increases based on which of the following?

The scatter about the line increases and the amount of the variation of Y explained by X decreases

The scatter about the line decreases and the amount of the variation of Y explained by X increases

The scatter about the line increases and the amount of the variation of Y explained by X increases

The scatter about the line decreases and the amount of the variation of Y explained by X decreases

25) The Standard Error is a standard deviation measuring the scatter of the points about the regression line. True False