Independent variable versus dependent variable


Problem:

No trip to St. Louis is complete without seeing the Cardinals play and a post-game trip to Ted Drewes Frozen Custard. Ted believes the tie between Redbird fans and his frozen custard to be hopelessly inextricable; hence, he believes sales are higher during home games than road games. Ted's employees believe that the weather has a bigger impact on sales than anything else - particularly the air temperature: the higher the temperature, the more the sales. Facts were needed to trump opinion, so Ted and his employees gathered the following data:

Q1. Prepare a scatter plot of each independent variable vs. the dependent variable.

Q2. What is the regression equation that best represents the relationship between each independent variable and the dependent variable?

Q3. What is the regression equation that best represents the relationship between both independent variables and the dependent variable?

Q4. Who is correct - Ted or his employees? Adequately support your answer quantitatively.

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Accounting Basics: Independent variable versus dependent variable
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