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

question 163

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:

Supplies Costs

Expenses associated with the purchase of supplies needed for the operation of a business or the production of goods.

Spending Variance

The difference between the actual and budgeted amount of spending, indicating over or under spending.

Total Expenses

The sum of all expenses incurred by a business during a specified period, including cost of goods sold, operating expenses, and other charges.

Spending Variance

The difference between the actual amount of money spent and the budgeted amount in a given period.