Quantitative Analysis: Miko Ice Cream Sales
Mathematics
The excel document is attached
There are two questions to answer. One is attached as a picture. Complete both in Excel
Dr. Miko runs an ice cream stand during the summer. Last summer he record his sales and the average daily temperature for 75 days and placed it in the following Excel file MikoIceCreamSales.xlsx. He thinks that temperature impact his sales and would like to use this data to make better predictions that he can use in staffing and inventory decision. To this end, please do the following for Dr. Miko.
a. Find the coefficient of correlation between temperature and sales and interpret appropriately.
b. Draw a scatter diagram, label it appropriately, add a trendline and R-squared value. Interpret.
c. Perform a regression analysis for Dr. Miko. What is the p-value for temperature?
d.Using the regression equation predict a sales volume for Dr. Miko if expect that the average daily temperature for tomorrow will be 78 degrees.
Question 12:Attached as image.
