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Mathematics, 30.08.2021 17:40 taliyahjhonson1

The regression analysis shown below describes the relationship between the daily high temperature (in degrees Fahrenheit) and the number of pints of IPA beer consumed at Red Banjo Brewing. Red Banjo IPA (pints) vs. Daily High Temperature (degrees Fahrenheit) Regression Statistics Multiple R 0.825 R Square 0.680 Adjusted R Square 0.675 Standard Error 3.076 Observations 61.000 ANOVA F Significance F 125.440 0.000 Regression Residual Total df 1.000 59.000 60.000 SS MS 1186.629 1186.629 558.125 9.460 1744.754 Intercept High Temp Coefficients Standard Error 53.617 9.454 1.525 0.136 Stat 5.671 11.200 P-value 0.000 0.000 Lower 95% Upper 95% 34.699 72.534 1.253 1.798 What do the values "1.253" and "1.798" for the variable High Temp tell us? There is a 95% chance that on average, each increase of one degree in the temperature will cause at least 1.253 extra pints of IPA to be consumed. There is a 95% chance that on average, each increase of one degree in the temperature will cause upwards of 1.798 extra pints of IPA to be consumed. At the 95% confidence level, it is plausible that the slope of the regression line is between 1.253 and 1.798. At the 95% confidence level, it is plausible that the y-intercept of the regression line is between 1.253 and 1.798.

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