Question 7

A retailer would like to know if the amount of time a customer spends online has an effect on the amount of money spent by the customer. The file Online_Shopping.xlsx has information on randomly selected customers who made an online purchase. The information contained in this file includes the amount of time each customer spent viewing items on the website (in minutes) and the dollar amount of their purchase. You will use this data to answer Questions 7 through 9.

Based on this data, how much of the variation in the dependent variable can be explained by the explanatory variable?

NOTE: Enter a numerical value only, and round your response to 4 digits after the decimal point. For example, you would enter the value of .34561 as .3456 in the box below; and .34566 as .3457.If you do not follow these formatting and rounding rules, you may not receive credit for your answer.

LINK TO DATA

https://docs.google.com/spreadsheets/d/1RNob--j8MmAab2GAn8KMM14Ag0gXlzbbyIxoXXlA_0o/edit?usp=sharing

Question 8

Based on your analysis of data in Question 7, are these two variables (amount of time spent viewing items on the website and the dollar amount of purchase) positively or negatively correlated?

Question 9

Based on your analysis of data in Question 7, what is the point estimate of the dollar amount of purchase, if the customer stays and browses for 15 minutes? Calculate this point estimate using the actual values obtained in your analysis and not the rounded values used to answer the previous questions.

NOTE: Enter a numerical value only, and round your response to 2 digits after the decimal point. For example, you would enter the value of 105.3447 as 105.34 in the box below; and 105.3456 as 105.35.If you do not follow these formatting and rounding rules, you may not receive credit for your answer. Do not enter the dollar sign ($).

LINK TO DATA

https://docs.google.com/spreadsheets/d/1RNob--j8MmAab2GAn8KMM14Ag0gXlzbbyIxoXXlA_0o/edit?usp=sharing