I’m working on a statistics multi-part question and need an explanation and answer to help me learn.
Hand in your answers to the following questions as a PDF:
1 – Create a new variable “cold_beverage” that is equal to the sum of Juice and Soda Sold. How did you create this variable?
2 – Run a simple regression analysis where your Y variable is your new cold_beverage variable and your X variable is max_temp. Report your regression results and carefully interpret your Beta1 coefficient and R squared result.
3 – Run a regression where your Y variable is your new cold_beverage variable and your X variables are the max_temp and DOW_num. Report your regression results and carefully interpret your Beta1 & Beta2 coefficient and R squared result.
4 – Create a scatter plot with your simple regression line included from question 2. Carefully label your graph and choose a color (other than blue) for your regression line.
5- Over what temperature ranges does your simple linear regression model make sense? Why?
Find attached zip file with cafedata.csv and OLS example
