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Statistic for Management class
Sheet 5: Regression
| 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 year?” | |||||||||||||
| Age (X) | Time (Y) | ||||||||||||
| 34 | 123,556.00 | ||||||||||||
| 17 | 92,425.00 | ||||||||||||
| 42 | 250,908.00 | ||||||||||||
| 35 | 204,540.00 | ||||||||||||
| 19 | 77,897.00 | ||||||||||||
| 43 | 197,012.00 | ||||||||||||
| 51 | 195,126.00 | ||||||||||||
| 50 | 177,100.00 | ||||||||||||
| 22 | 83,230.00 | ||||||||||||
| 58 | 140,012.00 | ||||||||||||
| 48 | 265,296.00 | ||||||||||||
| 35 | 189,420.00 | ||||||||||||
| 39 | 235,872.00 | ||||||||||||
| 39 | 230,724.00 | ||||||||||||
| 59 | 238,655.00 | ||||||||||||
| 40 | 138,560.00 | ||||||||||||
| 60 | 259,680.00 | ||||||||||||
| 22 | 93,208.00 | ||||||||||||
| 33 | 91,212.00 | ||||||||||||
| 36 | 153,216.00 | ||||||||||||
| 28 | 77,308.00 | ||||||||||||
| 22 | 56,496.00 | ||||||||||||
| 28 | 106,652.00 | ||||||||||||
| 44 | 242,748.00 | ||||||||||||
| 54 | 195,858.00 | ||||||||||||
| 30 | 178,560.00 | ||||||||||||
| 28 | 190,876.00 | ||||||||||||
| 16 | 98,528.00 | ||||||||||||
| 52 | 169,572.00 | ||||||||||||
| 22 | 79,420.00 | ||||||||||||
| 28 | 167,928.00 | ||||||||||||
| 35 | 215,705.00 | ||||||||||||
| 50 | 146,350.00 | ||||||||||||
| 10) | Use Data > Data Analysis > Correlation to compute the correlation checking the Labels checkbox. | ||||||||||||
| 11) | Use the Excel function =CORREL to compute the correlation. If answers for #1 and 2 do not agree, there is an error. | ||||||||||||
| The strength of the correlation motivates further examination. | |||||||||||||
| 12) | 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 | |||||||||||||
| Read directly from the chart: | |||||||||||||
| 13) | a) Intercept = | ||||||||||||
| b) Slope = | |||||||||||||
| c) R2 = | |||||||||||||
| Perform Data > Data Analysis > Regression. | |||||||||||||
| 14) | Highlight the Y-intercept with yellow. Highlight the X variable in blue. Highlight the R Square in orange | ||||||||||||
| 15) | Use Excel to predict the number of minutes spent by a 22-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. | |||||||||||||
| 16) | Is it appropriate to use this data to predict the amount of time that a 9-year-old will be on the Internet? | ||||||||||||
| If yes, what is the amount of time, if no, why? | |||||||||||||
