A Shop Owner Tries to Predict the Winter Collection Sales

question 7

Essay

A shop owner tries to predict the winter collection sales by displaying coat sales (in dollars)and the outside temperature (in degrees Fahrenheit)in the following scatterplot.Make a histogram of the coat sales.

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Definitions:

Ordinal Data

Data that represent categories with a meaningful order or ranking, but where the intervals between categories are not necessarily equal.

Ranking Procedures

Techniques used to assign ranks to different items or individuals based on certain criteria, often used in statistical analysis to compare groups.

Inferential Techniques

Statistical methods used to draw conclusions or inferences about characteristics of populations based on data obtained from a sample.

Estimates

Approximations or predictions based on statistical data or models, often used to predict future events or understand past occurrences.