Set up a scatter diagram in SPSS. Draw the least-squares regression line in the scatter diagram.
(1 mark) (b)
What is the least-squares regression equation? Y = –2,279.841 + 57.406X
(c)
Interpret the slope value. For every additional 1 Fahrenheit, the sales of ice cream will increase by $57.406.
(d)
(1 mark)
(1 mark)
What is the value of the coefficient of determination? Interpret this value. Coefficient of determination = 0.937 93.7% of the variation in sales of ice cream is explained by the variation in temperature. (2 marks)
(e)
(f)
What is the value of the correlation coefficient? 0.968
(1 mark)
Estimate the sales per store for a day in which the temperature is 83°F. Y = –2,279.841 + 57.406*83 = 2,484.857 (1 mark)
(d). What is the value of the coefficient of determination? Interpret this value. Coefficient of determination = 0.937. 93.7% of the variation in sales of ice cream is explained by the variation in temperature. (2 marks). (e). What is the value of the correlation coefficient? 0.968. (1 mark). (f). Estimate the sales per store for a day in ...
The owner of a large chain of ice-cream stores would like to study the effect of atmospheric temperature (°F) on sales (in dollars) during the summer season.
Lab Test 2 (Sample 1). Mutual funds minimize risks by diversifying the investments they make. There are mutual funds that specialize in particular type of investments. For example, the TD Precious Metal Mutual. Fund buys shares in gold mining compani
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Assessor's. marks awarded. NEBOSH. moderated. marks. (if different). 1 Completion of observation sheets. 1.1 Range and outline of hazards and consequences ...
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