An ice cream vendor would like to predict daily sales of ice

An ice cream vendor would like to predict daily sales of ice cream cones based on the temperature outdoors. Data for a random sample of 8 days are provided in the table below.

The regression line with

Solution

Regression line of y on x is linear and given by

y = 55.217+5.38597 x

Percentage of variation is daily sales y is related to temperature x.

Slope = 5.38597

Hence for each unit change in x, change in y is 5.38597

Thus 538.597 % of sales is due to change in temperature.