Several studies have found that the frequency with which shoppers browse internet retailers is related to the frequency with which they actually purchase products and/or services online. In the Assignment 3 Data file, the data show the age of respondents and their answer to the question, "how many minutes do you browse online retailers per week?"
Please complete the following tasks using Excel.
- Construct a scatter diagram for the age of respondents and browsing time (min/week). Does it seem that the variables are linearly correlated?
- Find and interpret the coefficient of correlation.
- Find and interpret the coefficient of determination.
- Find the regression equation and plot the regression line. Interpret the slope of the regression line.
- Using the regression equation find the most likely browsing time for a 58-year-old person.
Age of Respondent 22 50 44 32 55 60 38 22 21 45 52 33 19 17 21 19 19 65 44 30 26 24 35 40 44 19 65 57 49 25 23 51 27 38 67 62 45 19 66 58 43 25 23 50 27 38 68 61
Browsing Time (min/week) 492 186 180 384 120 60 276 480 510 252 126 360 570 588 498 480 420 30 210 300 360 410 240 180 251 550 100 320 450 530 475 120 550 400 30 40 260 570 70 315 410 505 445 120 450 360 40 60