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

question 152

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. $$\begin{array} { | c | c | } \hline \text { Coffee sales revenue } & \text { Temperature } \\\hline 6.50 & 25 \\\hline 10.00 & 17 \\\hline 5.50 & 30 \\\hline 4.50 & 35 \\\hline 3.50 & 40 \\\hline 28.00 & 9 \\\hline\end{array}$$ a. Find the least squares regression line.
b. Interpret the slope.

Calculate expected profit based on given demand distribution and costs.

Understand the relationship between product availability, inventory levels, and supply chain costs.

Identify costs associated with overstocking and understocking in inventory management.

Apply supply chain concepts to real-world scenarios for decision making.

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Definitions:

Person's Motives

The underlying reasons or intentions that drive an individual's actions or decisions.

Reflected Behavior

Actions or reactions that mirror or are influenced by the behavior of others, often observed in social settings.

Emotive Style

A way of communicating or expressing oneself that is characterized by the exhibition of emotions and feelings.

Flex

Adaptability or willingness to adjust one's approach or actions in response to changing circumstances or demands.