Question: Please explain step by step. A coffee shop owner wants to examine the relationship between (hot) coffee sales and daily temperature. He collected the following

Please explain step by step.

A coffee shop owner wants to examine the relationship between (hot) coffee sales and daily temperature. He collected the following data ( = 15).

We have = 59.6267 and = 1872.4533 with = 14.7342 and = 236.3494 The value of the sample correlation coefficient r for these data is approximately 0.605. ( = 0.605) The standard error of the slope of this least-squares regression line is approximately 3.542. ( = 3.542)

a. Compute the least-square regression line for predicting sales from temperature.

b. Compute the 95% confidence interval for the slope and interpret it.

c. Test for a significant negative linear relationship between the two variables coffee sales () and temperature () by doing a hypothesis test regarding the population slope 1. Include the null and alternative hypothesis and the conclusion of the test. (Assume that the variable follows a normal distribution for each value of .) Use the critical value approach, with a 0.05 level of significance. Use your table of statistical values for the relevant information. Write your conclusion and interpret it.

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