Application Exercise

In chapter 4, you learned about regression analysis and how this approach is used to determine what kind of relationship exists between variables X and Y. You also learned how managers use this approach to make logical, sound and informed decisions in business operations.
Ms. Tessa Roberts, owner of Cold Stone Ice Cream, would like to study the effect of atmospheric temperature on sales of ice cream during the summer season. A sample of 21 consecutive days (shown below) is presented in the attached Excel file:

 

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