The owner of a mobile burger-bar believes that hot weather reduces his sales.
To investigate the effect on his business he collected data on his daily sales, \(£P\), and the maximum temperature, \(T\)°C, on each of 20 days. He then coded the data, using \(x = T - 20\) and \(y = P - 300\), and calculated the summary statistics given below.
$$\Sigma x = 57, \quad \Sigma y = 2222, \quad \Sigma x^2 = 401, \quad \Sigma y^2 = 305576, \quad \Sigma xy = 3871.$$
- Find an equation of the regression line of \(P\) on \(T\). [9 marks]
The owner of the bar doesn't believe it is profitable for him to run the bar if he takes less than £460 in a day.
- According to your regression line at what maximum daily temperature, to the nearest degree Celsius, does it become unprofitable for him to run the bar? [3 marks]