Pop-up coffee vendors have been popular in the city of Adelaide in 2013. A vendor is interested in knowing how temperature (in degrees Celsius) impacts daily hot coffee sales revenue (in $00's).
A random sample of 6 days was taken, with the daily hot coffee sales revenue and the corresponding temperature of that day noted. Excel regression output given below. Test the significance of the slope, against a two-tailed alternative, at the 5% level of significance.
Correct Answer:
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HA: β1 ≠ 0
p-value = 0.0263
α = 0...
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