Question

In looking through company files, you discover that the former manager collected considerable data. Last summer,...

In looking through company files, you discover that the former manager collected considerable data. Last summer, a typical week produced the following data:

Day

Temperature

(degrees Fahrenheit)

Number of Transactions

Gross Receipts (in dollars)

Monday

78

238

3014

Tuesday

73

194

2842

Wednesday

70

172

2141

Thursday

75

185

2235

Friday

83

270

4505

Saturday

89

320

5021

Sunday

94

280

4442
  1. Based on your data, predict the number of transactions if the temperature reaches 98 °. Explain how you made this prediction and how accurate you think it is.
  2. Based on your data, predict the gross receipts if the temperature is 80°. Explain how you made this prediction and how accurate you think it is.
  3. Based on your data, predict the number of transactions if the temperature falls to 65 °. Explain how you made this prediction and how accurate you think it is.
  4. As the number of transactions increases, what can you say about the gross receipts? Explain how you arrived at your conclusion.
  5. Functions are mathematical models for defining relationships between variables. In your own words, describe the functions in this scenario.
  6. Describe the other functions which last year's manager neglected to consider.
Math   Statistics-And-Probability   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
This project is assigned to give you the chance to apply the knowledge that you have...
This project is assigned to give you the chance to apply the knowledge that you have acquired in statistics to our Global Society. The following data has been collected for you and you are going to look at the possible relationships and make some decisions that might impact your life based on the outcomes. Use the following data in this project. The data represents the Total Number of Alternative-Fueled Vehicles in use in the United States (source:  US Department of Energy:  http://tonto.eia.doe.gov/aer/)...
Excel Lab 2: Regression and Goal Seek In this lab, you will use Excel to determine...
Excel Lab 2: Regression and Goal Seek In this lab, you will use Excel to determine the equation of the model which best fits a set of ordered pairs obtained from data sets. You will enter data, graph the data, find the equation for the regression model, and then use that equation to make predictions for the dependent variable. You will use the goal seek to make predictions for the independent variable. Then you will consider how accurate your predictions...
1) You measure 28 turtles' weights, and find they have a mean weight of 75 ounces....
1) You measure 28 turtles' weights, and find they have a mean weight of 75 ounces. Assume the population standard deviation is 14.2 ounces. Based on this, construct a 99% confidence interval for the true population mean turtle weight. Give your answers as decimals, to two places ± ± ounces 2) Assume that a sample is used to estimate a population mean μ μ . Find the margin of error M.E. that corresponds to a sample of size 7 with...
1 A local homebrewer is looking to expand his small in-home operations into a company that...
1 A local homebrewer is looking to expand his small in-home operations into a company that will mass produce his beers. He hires you, the analyst, to conduct an analysis on specific types of strategies that his company should take so as to succeed in his mission of providing fresh, locally sourced, handcrafted beers to all (of legal age) in NJ. In this case study, you will provide an analysis of the current market as it stands. You will leverage...
As you saw from the lab PowerPoint slides last week, you will be doing a research...
As you saw from the lab PowerPoint slides last week, you will be doing a research study looking at ‘Aggression Priming” for your first paper. For this week’s discussion, I want you to discuss with your group what you think this study is about. What is the hypothesis? What theory does it come from? What do you predict will happen (do you expect something different than the hypothesis in the researcher instructions? If so, what and why?)? Do you think...
Activity 1: Scientific Reports You may have heard the question “If a tree falls in a...
Activity 1: Scientific Reports You may have heard the question “If a tree falls in a forest and no one is around to hear it, does it make a sound?” A similar question can be asked about experiments. “If a researcher performs an experiment and never publishes the result has science been performed?” Many people would say no because science is the accumulation of knowledge. If the results of an experiment are not published, knowledge is not gained. The final...
Background You are a manager in the audit division at Miller Yates Howarth (MYH), an accounting...
Background You are a manager in the audit division at Miller Yates Howarth (MYH), an accounting firm with offices throughout the major regional centres of NSW and Queensland. Although a medium sized firm by national standards, MYH is the second largest regional accounting firm in Australia. Most of MYH’s audit clients are in the agriculture, mining, manufacturing and property industries. All of those industries are currently under pressure, either from a downturn in commodity prices or fierce competition from overseas...
You are a manager in the audit division at Miller Yates Howarth (MYH), an accounting firm...
You are a manager in the audit division at Miller Yates Howarth (MYH), an accounting firm with offices throughout the major regional centres of NSW and Queensland. Although a medium sized firm by national standards, MYH is the second largest regional accounting firm in Australia. Most of MYH’s audit clients are in the agriculture, mining, manufacturing and property industries. All of those industries are currently under pressure, either from a downturn in commodity prices or fierce competition from overseas competitors....
1) Describe an example of each of the following that may be found of your kitchen:...
1) Describe an example of each of the following that may be found of your kitchen: Explain how your choice falls into this category, and if there is a chemical name or symbol for it, provide that as well. Provide a photo of your example with your ID card in it. a) a compound b) a heterogeneous mixture c) an element (symbol) Moving to the Caves… Lechuguilla Caves specifically. Check out this picture of crystals of gypsum left behind in...
This case assignment draws from the Business Information Systems and the Systems Acquisition and Development modules...
This case assignment draws from the Business Information Systems and the Systems Acquisition and Development modules (Chapters 5 to 8). Its purpose is to provide you with experience in analyzing organizational information systems, making recommendations to improve these systems, and formulating a plan to execute on your recommendations. 1. Recommend one of your alternatives that is the best solution to the main issue and justify your recommendation. Your justification should be based on the key decision criteria and you must...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT