A soda vendor at louisiana state university football games, Ask an Expert

Economics

A soda vendor at Louisiana State University football games observes that more sodas are sold the warmer the temperature at game time is. Based on 32 home games covering five years, the vendor estimates the relationship between soda sales and temperature to be y^ =-240+8x, where y = the number of soda she sells and x = temperature in degrees Fahrenheit,

A: Interpret the estimated slope and intercept. Do the estimates make sense? Why, or why not?

B: On a day when the temperature at game time is forecast to be 800 F, predict how many sodas the vendor will sell.

C: Below what temperature are the predicted sales zero?

D: Sketch a graph of the estimated regression line.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M92201893

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