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.

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Definitions:

Price Inelastic

A characteristic of a good or service whose demand does not significantly change when its price changes.

Agricultural Products

Goods derived from farming and the cultivation of soil, including crops and livestock.

Agricultural Industry

The sector of the economy focused on the production, processing, and distribution of food, fiber, and related products.

Farm Products

Items derived from agriculture, including crops and livestock.