Pop-Up Coffee Vendors Have Been Popular in the City of Adelaide

question 28

Essay

Pop-up coffee vendors have been popular in the city of Adelaide in 2013. A vendor is interested in knowing how temperature (in degrees Celsius) and number of different pastries and biscuits offered to customers impacts daily hot coffee sales revenue (in $00's).
A random sample of 6 days was taken, with the daily hot coffee sales revenue and the corresponding temperature and number of different pastries and biscuits offered on that day, noted.
Excel output for a multiple linear regression is given below: $$\begin{array} { | c | c | r | } \hline \text { Coffee sales revenue } & \text { Temperature } & \text { Pastries/biscuits } \\\hline 6.5 & 25 & 7 \\\hline 10 & 17 & 13 \\\hline 5.5 & 30 & 5 \\\hline 4.5 & 35 & 6 \\\hline 3.5 & 40 & 3 \\\hline 28 & 9 & 15 \\\hline\end{array}$$ $\begin{array}{|l|r|r|r|r|r|c|}\hline \text { SUMMARV } \\\text { OUTPUT } \\\hline \text { Regression } \\\text { Stotistics } \\\hline \text { Multiple R } & 0.87 \\\hline \text { R Square } & 0.75 \\\hline \begin{array}{l}\text { Adjusted R } \\\text { Square }\end{array} & 0.59 \\\hline \text { Standard Error } & 5.95 \\\hline \text { Otservations } & 6.00 \\\hline\\\hline \text { ANOVA }\\\hline & & & & & \text { Significonce } \\& \text { df } & S S & M S & F & F \\\hline \text { Regression } & 2.00 & 322.14 & 161.07 & 4.55 & 0.12 \\\hline \text { Residual } & 3.00 & 106.20 & 35.40 \\\hline \text { Total } & 5.00 & 428.33 & \\\hline\\\hline & \text { Coefficients } & {\begin{array}{c}\text { Standard } \\\text { Error }\end{array}} & {\text { tStot }} & \text { Pvolue } & \text { Lower 95\% } & \begin{array}{c}\text { Upper } \\95 \%\end{array} \\\hline \text { Intercept } & 18.68 & 37.8 & 0.49 & 0.66 & -101.88 & 139.24 \\\hline \text { Temperature } & -0.50 & 0.83 & -0.60 & 0.59 & -3.15 & 2.15 \\\hline \text { Patries/bisouits } & 0.49 & 2.02 & 0.24 & 0.82 & -5.94 & 6.92 \\\hline\end{array}$ Comment on the difference between the coefficient of determination and the Adjusted coefficient of determination.

Apply the concept of allowance for doubtful accounts and bad debts expense in accounting practices.

Comprehend the impact of uncollectible accounts on financial statements.

Prepare journal entries for estimating and adjusting allowance for doubtful accounts.

Recognize the presentation of allowance for doubtful accounts on the balance sheet.

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Definitions:

Social Planning

The process of designing and implementing societal interventions, programs, and policies aimed at addressing social needs, improving community welfare, and fostering societal development.

Locality Development

Locality development emphasizes the involvement and empowerment of community members in the process of identifying and addressing their own needs to improve their local area.

Community Brokering

The practice of connecting members of a community with resources, services, or opportunities they may not have access to or knowledge of, enhancing community well-being.

Economic Characteristics

Attributes that describe the economic status or conditions of a particular region, including income levels, employment rates, and types of industries present.