Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2 outputs are given in the picture ( sales represent in $1,000)1. Estimate the sales per stores on day in which the temperature is 10C.2.Interpret

2 outputs are given in the picture ( sales represent in $1,000)1. Estimate the sales per stores on day in which the temperature is 10C.2.Interpret the y-intercept*Use this information to answer no. 3-6 (At the 5% level of significance, perform a test to determine whether there is evidence of a significance positive relationship between temperature and sales.)3. State the alternative hypothesis in symbolic form Ha.....4. What is the value of test statistic?5. What is the p-value ?6. State the decision and conclusion

image text in transcribed
owner of a large chain:of ice-cream stores would like to study the effect of atmospheric temperature (C) on sales (in $ 1,0 ing the winter season. o computer outputs are given below, choose the correct output to answer the following questions. EXCEL Output: A1 Regression Statistics Multiple R 0.951452365 R Square 0.905261602 Adjusted R Square 0.889471869 Standard Error 0.16383695 Observations 8 ANOVA of SS MS F Significance F Regression 1.538944724 . 1:53894472 57.3322933 0.000275737 Residual 0.161055276 0.02684255 Total 1.7 Coefficients Standard Error t Stat P-value Intercept 2.040075377 0.05971666 34.1625835 4.1894E-08 Temperature ("C) 0.043969849 0.005807047 7.57180912 0.00027574 SAS Output: A2 Dependent Variable: Temperature ("C) Number of Observations Used 8 Analysis of Variance Sum of Mean Source DF Squares Square F Value Pr > F Model 1 720.58824 720.58824 . 57 33 0.0003 Error 6 75.41176 12 56863 Corrected Total 7 796.00000 Root MSE 3.54523 R-Square |0.9053 Parameter Estimates Parameter Standard Variable DF Estimate Error t Value Pr > It Intercept 41 76471 5.97885 -6.99 0.0004 Sales 20.58824 2.71906 7.57 0.0003

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Discrete Mathematics

Authors: Gary Chartrand, Ping Zhang

1st Edition

1478616261, 9781478616269

More Books

Students also viewed these Mathematics questions

Question

1. Information that is currently accessible (recognition).

Answered: 1 week ago