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:

Formal Procedures

Established methods and protocols prescribed by an organization or system, often legal or governmental, for carrying out activities or resolving disputes.

Formally Approved

Officially sanctioned or authorized by a recognized authority.

Illegitimate Children

Children born to parents not legally married to each other, affecting their legal rights and status in some jurisdictions.

Inherit

To receive assets or liabilities left by a deceased person through their will or by statutory rights.