Question
A well-known multinational FMCG produces more than fifty products and sells them in the market. Out of fifty products one is mineral water for drinking
A well-known multinational FMCG produces more than fifty products and sells them in the market. Out of fifty products one is mineral water for drinking purpose and supplies different size pack bottles in the market. Product manager observed that, during hot days the sale of water is more as compared to the normal days.He started the collection of data of weekly sale of waterandthe averageweeklytemperature.
Product manager was interested in developing a relationship between sales and temperature; therefore, he discussed and shared the following data with you.
sales
75
77
69
63
79
80
77
70
73
87
72
73
80
80
69
84
77
72
74
81
temperature
32
36
31
31
34
29
32
35
28
31
30
31
29
35
36
28
32
33
32
33
Sale is in thousand liters and temperature is in degreeCelsius. Data is Normally distributed
You are required to determine the following information for some concrete decision:
a.Determine the statistical relationship between temperature and sale of water and interpret.
b.How much change in sales if the temperature increases by two degrees?
c.If for instance, the temperature becomes zero then how much sales will be?
d.How much percent variation in sales due to temperatureanddue to other factors?
e.Write the equation for the prediction of sales.
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