1. Solve the following problem by using Excel for graph sketching.A soda vendor at Louisiana State University football games observes that more sodasare sold the warmer the temperature at game time is. Based on 32 home gamescovering five years, the vendor estimates the relationship between soda sales andtemperature to be y = -240 + 8x, where y = the number of sodas she sells and .x =temperature in degrees Fahrenheit,(a) Interpret the estimated slope and intercept. Do the estimates make sense? Why,or why not?(b) On a day when the temperature at game time is forecast to be 80°F, predict howmany sodas the vendor will sell.(c) Below what temperature are the predicted sales zero?(d) Sketch a graph of the estimated regression line.

The objective of the question is to interpret the estimated slope and intercept of the given linear…

Answered: 1. Solve the following problem by using…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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