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Jeannette Moriak: Choosing A Model

The document provides sales data for coffee and tea at various prices. It asks the reader to select one of the drinks, perform a linear regression to find the line of best fit, and use the line of best fit to predict sales and calculate residuals at each price point. However, the reader does not have a graphing calculator to complete these calculations and generate a residual plot.

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Jeannette Moriak
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2K views2 pages

Jeannette Moriak: Choosing A Model

The document provides sales data for coffee and tea at various prices. It asks the reader to select one of the drinks, perform a linear regression to find the line of best fit, and use the line of best fit to predict sales and calculate residuals at each price point. However, the reader does not have a graphing calculator to complete these calculations and generate a residual plot.

Uploaded by

Jeannette Moriak
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Jeannette Moriak

Choosing a Model

You are helping your boss, the owner of a coffee shop, set prices. She has gathered some data

by counting the number of cups sold per day at various prices. Your job is to see if there is a

relationship between price and sales for one of the two most popular drinks.

Coffee sales:
Price: 1.50 2.20 2.70 2.50 2.90 2.00 1.60 2.10 3.00 1.80
Sales: 96 79 70 73 64 85 94 83 63 91
Tea sales:
Price: 2.40 1.50 1.10 1.60 2.50 1.30 1.00 1.70 2.20 2.00
Sales: 64 85 94 83 63 91 96 79 70 73

1. Which drink did you select? Circle one.

Tea

Find a line of best fit.

2. Enter the data into your calculator and perform a linear regression. Round a and b to the

nearest tenth. (2 points: 1 point for slope and 1 point for y-value of y-intercept)

What is your linear regression equation? I don’t have a graphing calculator...

3. What is the meaning of the slope? (2 points) The slope is how much y changes every time x

changes, so if the slope is 3 and the line starts at (0,0), then the next point would be (1,3)

4. Complete the table. (10 points: 1 point for each row)


1. Identify the actual number of sales at each price.

2. Use your line of best fit to calculate the predicted sales at each price.

3. Calculate the residuals at each price by subtracting predicted sales from actual sales.

Again, I don’t have a graphing calculator so

Price Actual Sales Predicted Sales Residual

1.0 96

1.1 94

1.3 91

1.5 85

1.6 83

1.7 79

2.0 73

2.2 70

2.4 64

2.5 63

5. Create a residual plot using the data from the table. (4 points) So I know how to make a

residual plot I just don’t know what points I can use, if there’s another assignment I can do

instead because I can’t calculate the line of best fit let me know

6. Analyze the residual plot. Based on your plot, does your model fit the data well? (2 points)

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