A local coffee shop keeps track of how much hot chocolate they sell versus the low temperature on that day. Below is a table with the temperatures and sales figures for a sample of 6 days. Temp F 48 72 58 60 55 70 Sales $ 85 32 68 62 76 25 (Fill in the Blanks) (a) Compute the correlation coefficient r. Round your final result to three decimal places. Correlation Coefficient = ______________ (b) Fill in the blanks with the appropriate values for the equation of the regression line equation. Round values in the equation to three decimal places. y = ____________ + ___________ x (c) Estimate how much in sales would the ice cream shop may expect to sell if the daily high temperature was 50 F. Round your final answer to two decimal places (round to the nearest hundredth) The ice cream shop would expect to sell $__________
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
A local coffee shop keeps track of how much hot chocolate they sell versus the low temperature on that day. Below is a table with the temperatures and sales figures for a sample of 6 days.
|
Temp F |
48 |
72 |
58 |
60 |
55 |
70 |
|
Sales $ |
85 |
32 |
68 |
62 |
76 |
25 |
(Fill in the Blanks)
(a) Compute the
Correlation Coefficient = ______________
(b) Fill in the blanks with the appropriate values for the equation of the regression line equation. Round values in the equation to three decimal places.
y = ____________ + ___________ x
(c) Estimate how much in sales would the ice cream shop may expect to sell if the daily high temperature was 50 F. Round your final answer to two decimal places (round to the nearest hundredth)
The ice cream shop would expect to sell $__________
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