Homework Help is Here – Start Your Trial Now!
Math
Statistics
Managers of an outdoor coffee stand in Coast City are examining the relationship between (hot) coffee sales and daily temperature, hoping to be able to predict a day's total coffee sales from the maximum temperature that day. The bivariate data values for the coffee sales (denoted by , in dollars) and the maximum temperature (denoted by , in degrees Fahrenheit) for each of fifteen randomly selected days during the past year are given below. These data are plotted in the scatter plot in Figure 1.

Managers of an outdoor coffee stand in Coast City are examining the relationship between (hot) coffee sales and daily temperature, hoping to be able to predict a day's total coffee sales from the maximum temperature that day. The bivariate data values for the coffee sales (denoted by , in dollars) and the maximum temperature (denoted by , in degrees Fahrenheit) for each of fifteen randomly selected days during the past year are given below. These data are plotted in the scatter plot in Figure 1.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
See similar textbooks
icon
Related questions
Question
100%

Managers of an outdoor coffee stand in Coast City are examining the relationship between (hot) coffee sales and daily temperature, hoping to be able to predict a day's total coffee sales from the maximum temperature that day. The bivariate data values for the coffee sales (denoted by , in dollars) and the maximum temperature (denoted by , in degrees Fahrenheit) for each of fifteen randomly selected days during the past year are given below. These data are plotted in the scatter plot in Figure 1.

 

The least-squares regression line for these data has a slope of approximately - 10.42. Answer the following. Carry your intermediate computations to at least four decimal places, and round your answers as specified below. (If necessary, consult a list of formulas.) (a) What is the value of the y-intercept of the least-squares regression line for these data? Round your answer to at least two decimal places. (b) What is the value of the sample correlation coefficient for these data? Round your answer to at least three decimal places. 0
Transcribed Image Text:The least-squares regression line for these data has a slope of approximately - 10.42. Answer the following. Carry your intermediate computations to at least four decimal places, and round your answers as specified below. (If necessary, consult a list of formulas.) (a) What is the value of the y-intercept of the least-squares regression line for these data? Round your answer to at least two decimal places. (b) What is the value of the sample correlation coefficient for these data? Round your answer to at least three decimal places. 0
grees Fahrenheit) 57.6 40.3 74.2 46.6 48.1 67.1 82.7 73.6 74.5 52.2 73.2 64.3 56.7 41.0 43.9 (in dollars) 1614.1 1966.7 1519.4 1986.2 2151.3 1746.2 1532.5 1668.4 2024.8 2253.2 1907.4 1821.1 1956.4 2229.2 1794.0 Coffee sales (in dollars) Figure 1 2400+ 2200+ 2000+ 1800. 1600- 1400- 1200- X 40 X X X X 50 X 60 X X X 80 X Temperature (in degrees Fahrenheit) 90 x
Transcribed Image Text:grees Fahrenheit) 57.6 40.3 74.2 46.6 48.1 67.1 82.7 73.6 74.5 52.2 73.2 64.3 56.7 41.0 43.9 (in dollars) 1614.1 1966.7 1519.4 1986.2 2151.3 1746.2 1532.5 1668.4 2024.8 2253.2 1907.4 1821.1 1956.4 2229.2 1794.0 Coffee sales (in dollars) Figure 1 2400+ 2200+ 2000+ 1800. 1600- 1400- 1200- X 40 X X X X 50 X 60 X X X 80 X Temperature (in degrees Fahrenheit) 90 x
Expert Solution
steps

Step by step

Solved in 4 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman
SEE MORE TEXTBOOKS