Question

(X) Temperature -3 12 23 34 45 56 76 87 98 102 (y) # Customers 10...

(X) Temperature -3 12 23 34 45 56 76 87 98 102 (y) # Customers 10 23 34 45 56 76 87 89 90 120 An ice cream shop meticulously recorded the outdoor temperature (in Fahrenheit) and number of customers for several randomly selected days throughout the year. What is the y-intercept of the best fit line between the temperature (x) and the number of customers (y)? Round your answer to four decimal places.

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Answer #1

The statistical software output for this problem is:

Simple linear regression results:

Dependent Variable: Y
Independent Variable: X
Y = 12.081291 + 0.94997591 X
Sample size: 10
R (correlation coefficient) = 0.97550679
R-sq = 0.9516135
Estimate of error standard deviation: 8.1648331

Parameter estimates:

Parameter Estimate Std. Err. Alternative DF T-Stat P-value
Intercept 12.081291 4.8109621 ≠ 0 8 2.5112007 0.0363
Slope 0.94997591 0.075735483 ≠ 0 8 12.54334 <0.0001

Hence,

y - intercept = 12.0813

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