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 y, in dollars) and the maximum temperature (denoted by x, in degrees Fahrenheit) for each of sixteen randomly selected days during the past year are given below. These data are plotted in the scatter plot in Figure 1. Also given is the product of the temperature and the coffee sales for each of the sixteen days. (These products, written in the column labelled "xy", may aid in calculations.) Temperature, (in degrees Fahrenheit) 74.9 47.1 72.1 56.7 77.5 39.2 67.5 52.6 72.7 50.0 41.6 81.0 45.0 57.8 48.1 62.6 Send data to calculator 0 Coffee sales, y (in dollars) 1977.4 2013.7 1946.3 1604.0 1519.5 1998.3 1722.2 1823.9 1691.4 2200.7 2270.8 1556.5 1729.6 1966.3 2139.9 1811.9 xy 148,107.26 94,845.27 140,328.23 90,946.8 117,761.25 78,333.36 116,248.5 95,937.14 122,964.78 110,035 94,465.28 126,076.5 77,832 113,652.14 102,929.19 113,424.94 Coffee sales (in dollars) Figure 1 2400 2200 2000 1800 1600- 1400 1200 11 40 50 60 70 80 Temperature (in degrees Fahrenheit) 90 What is the slope of the least-squares regression line for these data? Carry your intermediate computations to at least four decimal places and round your answer to at least two decimal places. (If necessary, consult a list of formulas.)
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 y, in dollars) and the maximum temperature (denoted by x, in degrees Fahrenheit) for each of sixteen randomly selected days during the past year are given below. These data are plotted in the scatter plot in Figure 1. Also given is the product of the temperature and the coffee sales for each of the sixteen days. (These products, written in the column labelled "xy", may aid in calculations.) Temperature, (in degrees Fahrenheit) 74.9 47.1 72.1 56.7 77.5 39.2 67.5 52.6 72.7 50.0 41.6 81.0 45.0 57.8 48.1 62.6 Send data to calculator 0 Coffee sales, y (in dollars) 1977.4 2013.7 1946.3 1604.0 1519.5 1998.3 1722.2 1823.9 1691.4 2200.7 2270.8 1556.5 1729.6 1966.3 2139.9 1811.9 xy 148,107.26 94,845.27 140,328.23 90,946.8 117,761.25 78,333.36 116,248.5 95,937.14 122,964.78 110,035 94,465.28 126,076.5 77,832 113,652.14 102,929.19 113,424.94 Coffee sales (in dollars) Figure 1 2400 2200 2000 1800 1600- 1400 1200 11 40 50 60 70 80 Temperature (in degrees Fahrenheit) 90 What is the slope of the least-squares regression line for these data? Carry your intermediate computations to at least four decimal places and round your answer to at least two decimal places. (If necessary, consult a list of formulas.)
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter1: Functions
Section1.2: The Least Square Line
Problem 7E
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