A well-known multinational FMCG produces more than fifty products and sells them in the market. Out of fifty products one is mineral water for drinking purpose and supplies different size pack bottles in the market. Product manager observed that, during hot days the sale of water is more as compared to the normal days. He started the collection of data of weekly sale of water and the average weekly temperature. Product manager was interested in developing a relationship between sales and temperature; therefore, he discussed and shared the following data with you. sales 75 77 69 63 79 80 77 70 73 87 72 73 80 80 69 84 77 72 74 81 temperature 32 36 31 31 34 29 32 35 28 31 30 31 29 35 36 28 32 33 32 33 Sale is in thousand liters and temperature is in degree Celsius. Data is Normally distributed You are required to determine the following information for some concrete decision: a. Determine the statistical relationship between temperature and sale of water and interpret. b. How much change in sales if the temperature increases by two degrees? c. If for instance, the temperature becomes zero then how much sales will be?
A well-known multinational FMCG produces more than fifty products and sells them in the market. Out of fifty products one is mineral water for drinking purpose and supplies different size pack bottles in the market. Product manager observed that, during hot days the sale of water is more as compared to the normal days. He started the collection of data of weekly sale of water and the average weekly temperature.
Product manager was interested in developing a relationship between sales and temperature; therefore, he discussed and shared the following data with you.
sales 75 77 69 63 79 80 77 70 73 87 72 73 80 80 69 84 77 72 74 81
temperature 32 36 31 31 34 29 32 35 28 31 30 31 29 35 36 28 32 33 32 33
Sale is in thousand liters and temperature is in degree Celsius. Data is
You are required to determine the following information for some concrete decision:
a. Determine the statistical relationship between temperature and sale of water and interpret.
b. How much change in sales if the temperature increases by two degrees?
c. If for instance, the temperature becomes zero then how much sales will be?
d. How much percent variation in sales due to temperature and due to other factors?
e. Write the equation for the prediction of sales.
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