Soft Drink Sales Narrative

question 26

Essay

Soft Drink Sales Narrative
A soft drink vendor, set up near a beach for the summer, was interested in examining the relationship between sales of soft drinks (in litres per day) and maximum temperature of the day. The vendor records the following data for a random sample of eight days in the summer, where y = number of litres of soft drinks sold per day and x = maximum temperature, in degrees Celsius, recorded for the day: The following summary information was computed: In addition, the following partial output was generated using statistical software:
The regression equation is sales = -28.460 + 1.7372 temp, MSE = 0.496767
-Refer to Soft Drink Sales Narrative. Find a 95% confidence interval for the mean value of y (sales) when the maximum temperature is C.

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Definitions:

Measures Of Center

Statistical measures that describe the central tendency of a dataset, including the mean, median, and mode.

Location

Refers broadly to a position or point in physical space or within a mathematical, conceptual, or statistical framework.

Qualitative

Concerning, measuring, or described by the quality of something rather than its quantity.

Mean

A measure of central tendency that represents the average value of a dataset, obtained by dividing the sum of all the values by the number of values.