A beachside ice cream shop is investigating the effect weather has on its ice cream Correlation coefficient interpretation: d) Interpret the slope within the context of the question. sales. Recognizing that weekdays and weekends could have very different sales, the owner decides to track the midday temperature (in .C) from Monday to Friday over the course of one week and matches this to the daily sales. The findings are summarized in the table and graph below. b) Perform a hypothesis test to determine whether the correlation is statistically Day Monday Tuesday Wednesday |Thursday Friday significant. Use a significance level of a = 0.05. Round both answers to three decimal X - Temperature (C) 27.3 32.7 31.8 31.8 22.6 places Y - Daily Sales ($) 1896.92 2191.63 1833.46 2184.69 1339.13 Test Statistic: e) What does the equation predict the sales will be for a day with a midday 2500 temperature of 27.3C? Use the rounded coefficients for this calculation and round Critical Value: 2250 your answer to two decimal places. -2000 Is the correlation significant? 1750 Prediction: y = $ 1500 1250 Even if the relationship is not significant, answer the following questions: 1000 f) One of the five days observed had a midday temperature of 27.3 C and sales of 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 3: c) Calculate the equation for the regression line. Round each coefficient to four $1896.92. What is the residual error for the point (27.3,1896.92)? Round your decimal places and use these rounded values in the equation. Hint: Some of the values a) Calculate and interpret the correlation coefficient by first calculating SSx. SSy. from above may be useful. answer to two decimal places. and SP. Round your answers to four decimal places. Slope: b = SSx y- y = SSy Intercept: a = SP Equation: y =