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

question 90

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) 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 of that day noted. $$\begin{array} { | c | c | } \hline \text { Coffee sales revenue } & \text { Temperature } \\\hline 6.50 & 25 \\\hline 10.00 & 17 \\\hline 5.50 & 30 \\\hline 4.50 & 35 \\\hline 3.50 & 40 \\\hline 28.00 & 9 \\\hline\end{array}$$ Calculate and interpret a 95% confidence interval for the population slope.

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Definitions:

Gross Sales

The total revenue generated from sales before any deductions like returns, discounts, or allowances.

Significance Level

The threshold used in hypothesis testing that determines whether the observed results are statistically significant.

Null Hypothesis

The default hypothesis that there is no effect or no difference, tested against an alternative hypothesis in statistical analysis.

Random Samples

Selections made in such a way that each member of a population has an equal chance of being included, ensuring the sample's representativeness of the whole.