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.
Although we have three types of credit cards (Visa, MasterCard, and other), this information can be represented by only two qualitative variables. The equation will have this form: Dollars = b0 + b1*Minutes + b2*Visa + b3*MasterCard. The coding of the two qualitative variables: Visa=1 if customer used Visa card, otherwise=0; and MasterCard=1 if customer used MasterCard, otherwise=0 . For example, the data for a customer who spent $50 during a 10-minute visit to the site and used Master Card could be listed as 50, 10, 0, and 1 . If the same customer had used a card other than Visa or MasterCard, her data could have been listed as 50, 10, 0, and 0.
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The reserve requirement is 0 percent on the first $8 million in transaction deposits, 3 percent on amounts between $8 million and $50 million, and 10 percent on amounts above $50 million. A bank with transaction deposits totaling $83 million has required reserves equal to
A. $2.49 million. B. $4.56 million. C. $6.54 million. D. $8.30 million.
The states may enact legislation concerning a subject in which there is a federal statute if:
a. Congress has not clearly indicated that it intends to control that subject matter. b. the states petition the Supreme Court for permission. c. the state legislation falls within the Necessary and Proper Clause. d. the states reserve the right at the time the federal statute is enacted.
Perry is a playwright. He wrote and produced an off-Broadway play about the life of Colonel Sanders, "Just a Drop in the Bucket," that closed after the third performance. Later that same year, on vacation in Los Angeles, he went to see a new production
called "Fry It Anyway." Perry was appalled to discover that the play was substantially similar to his own. "Fry It Anyway" becomes a big hit. What protections are available for Perry? What defenses are available against any claims Perry might make? What additional protections would be available had Perry registered under the federal Copyright Act? Discuss fully.
The one who agreed to make a payment, such as a bank making a payment based on a document presented to it is:
a. the payee b. the beneficiary c. the drawer d. the checker e. none of the other choices