Question

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) 34 17 42 35 19 43 51 50 22 58 48 35 39 39 59 40 60 22 33 36 28 22 28 44 54 30 28 16 52 22 28 35 50 Time (Y) 123,556 92,425 250,908 204,540 77,897 197,012 195,126 177,100 83,230 140,012 265,296 189,420 235,872 230,724 238,655 138,560 259,680 93,208 91,212 153,216 77,308 56,496 106,652 242,748 195,858 178,560 190,876 98,528 169,572 79,420 167,928 215,705 146,350 A) Use Data > Data Analysis > Correlation to compute the correlation checking the Labels checkbox. B)Use the Excel function =CORREL to compute the correlation. If answers for #1 and 2 do not agree, there is an error. C)The strength of the correlation motivates further examination. 1. Insert Scatter (X, Y) plot linked to the data on this sheet with Age on the horizontal (X) axis. 2. Add to your chart: the chart name, vertical axis label, and horizontal axis label. 3. Complete the chart by adding Trend line and checking boxes- Display equation on chart & Display R square value on chart.

Answer 1

Solution:

A) Use Data > Data Analysis > Correlation to compute the correlation checking the Labels checkbox

Answer:

B)Use the Excel function =CORREL to compute the correlation.

Answer: The excel function =CORREL(data array x, data array y) gives us:

C)The strength of the correlation motivates further examination. 1. Insert Scatter (X, Y) plot linked to the data on this sheet with Age on the horizontal (X) axis. 2. Add to your chart: the chart name, vertical axis label, and horizontal axis label. 3. Complete the chart by adding Trend line and checking boxes- Display equation on chart & Display R square value on chart.

Answer: