For a Sample of 200 Recent Credit-Card Customers of a Company's

question 54

Essay

For a sample of 200 recent credit-card customers of a company's on-line store,the following data are available: the dollar amount of merchandise ordered during the visit,how much time (minutes)the customer spent at the site during the purchase visit,and whether the customer used a Visa,Master Card,or other.Describe the format of a linear regression equation for estimating the dollar amount of the order on the basis of the other variables described above.If any qualitative variables are used,indicate the strategy for coding them.

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Definitions:

Ancestral Character

a trait or characteristic that was present in the common ancestor of a group of species and may be retained or altered in its descendants.

Hair

A thin strand of keratin that grows from the skin of mammals.

Shared Homologous Structures

Anatomical features that are similar in different species due to shared ancestry, indicating evolutionary relationships.

Taxa

Groups of one or more populations of organisms classified together, representing categories used in biological taxonomy such as species, genus, or family.