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The owner of a Hot Beverage store has recorded the average temperature over the last 5 months and also the amount of hot chocolate sold
The owner of a Hot Beverage store has recorded the average temperature over the last 5 months and also the amount of hot chocolate sold in her shop. The data is shown below.
Year | July | August | September | Oct. | Nov. |
Average Monthly temperature (C) | 24 | 26 | 19 | 15 | 12 |
Average Number of Hot Chocolates Sold | 2 | 1 | 8 | 17 | 21 |
Given: n = 5 SumX = 96 SumY = 49 SumXY = 733 SumX2 = 1982 SumY2 = 799
a) Calculate the Standard Error of Estimate
b) Interpret the Standard Error of Estimate
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