A study is conducted to determine the simple linear regression relation (if any)

Question

A study is conducted to determine the simple linear regression relation (if any)between average temperature over a week and ice-cream sales in a particular city. The following table provides the regression data required to construct the model Average Temperature and Ice-cream Sales Average Temperature Weekly Ice-cream Sales over a Week (°F) 50 43 73 36 80 36 45 98 80 74 40 ($'000s) 143.544 129.752 183.362 230.938 117.29 195.994 118.04 133.524 228.832 197.334 186.158 125.504 Calculate the slope (b) and intercept (bo) of the simple regression equation using the data provided. Give your answers to 2 decimal places. (a) Slope bi (b) Intercept- bo

Explanation / Answer

The statistical software output for this problem is:

Simple linear regression results:
Dependent Variable: Sales
Independent Variable: Average Temp
Sales = 53.180776 + 1.7932396 Average Temp
Sample size: 12
R (correlation coefficient) = 0.999922
R-sq = 0.99984401
Estimate of error standard deviation: 0.55771208

Parameter estimates:

Analysis of variance table for regression model:

Hence,

a) Slope = 1.79

b) Intercept = 53.18

Parameter Estimate Std. Err. Alternative DF T-Stat P-value Intercept 53.180776 0.47328245 ? 0 10 112.36583 <0.0001 Slope 1.7932396 0.0070831409 ? 0 10 253.17012 <0.0001

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