Question: Sue comes to you to help her develop a forecasting model for her business. She is particularly interested in predicting the number of ice creams
Sue comes to you to help her develop a forecasting model for her business. She is
particularly interested in predicting the number of ice creams she will sell during th
summer. She has learned that the weather is a good predictor of ice sales and come
to you for advice. You have helped her develop the following regression model.
Where
demand for ice cream
the outside temperature
Note: Show your results and the process
a What is the demand for ice cream when the temperature is
b What is the demand for ice cream when the temperature is
c What is the demand for ice cream when the temperature is
d What is the demand for ice cream when the temperature is
e What is the demand for ice cream when the temperature is
f Under what conditions is Sue likely to sell more ice cream?
g Under what conditions is she less likely to sell more ice cream?
h Graphically represent the relationship between the outside temperature and the sales
of ice cream. What can you say about this relationship?
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