Please answer all questions, data is included: A magazine publishes restaurant ratings for various locations around the world. The magazine rates the restaurants for food,decor, service, and the cost per person. Develop a regression model to predict the cost per person, based on a variable that represents the sum of the three ratings. The magazine has compiled the accompanying table of this summated ratings variable and the cost per person for 25 restaurants in a major city. Complete parts (a) through (e) below. Summated Rating Cost ($ per person)54 4168 5067 6269 5965 4461 4256 4365 4051 3251 3353 4351 3574 8463 5352 3647 3357 3246 2555 4358 4664 6463 6351 2973 4668 49 A magazine publishes restaurant ratings for various locations around the world. The magazine rates the restaurants for food, decor, service, and the cost per person. Develop a regression model to predict the cost per person, based on a variable that represents the sum of the threeratings. The magazine has compiled the accompanying table of this summated ratings variable and the cost per person for 25 restaurants in a major city. Complete parts (a) through (e) below.Click the icon to view the table of summated ratings and cost per person.a. Construct a scatter plot. Choose the correct graph below.A.В.О с.D.ACost ($)90-ACost ($)90-ACost ($)90-ACost ($)90-0+0-0+90909090RatingRatingRatingRatingb. Assuming a linear relationship, use the least-squares method to compute the regression coefficients bo and b1.bo =|and b1%3D(Round to two decimal places as needed.)c. Interpret the meaning of the Y-intercept, bo, and the slope, b,. Choose the correct answer below.O A. The Y-intercept, bo, implies that if the summated rating of a restaurant is zero, the cost per meal is equal to bo, in dollars. The slope, b1, implies that for each increase of 1 in the summated rating, the cost per person is expected to decrease by b1, in dollars.B. A practical interpretation of the Y-intercept bo is not meaningful because no operating restaurant is likely to have a rating of zero. The slope b, implies that for each increase of 1 in the summated rating, the cost per person is expected to increase by the value of b,, in dollars.C. The Y-intercept, bo, implies that if the summated rating of a restaurant is zero, the cost per meal is equal to bo, in dollars. The slope, b1, implies that for each increase of 1dollar in the cost per person, the summated rating is expected to increase by b,.D. The Y-intercept, bo, implies that if the summated rating of a restaurant is zero, the cost per person is bo, in dollars. The slope, b1, implies the average cost per person is b, dollars.

Question

Please answer all questions, data is included:  A magazine publishes restaurant ratings for various locations around the world. The magazine rates the restaurants for​ food,de​cor, service, and the cost per person. Develop a regression model to predict the cost per​ person, based on a variable that represents the sum of the three ratings. The magazine has compiled the accompanying table of this summated ratings variable and the cost per person for 25 restaurants in a major city. Complete parts​ (a) through​ (e) below. Summated Rating               Cost ($ per person)54                                         4168                                         5067                                         6269                                         5965                                         4461                                          4256                                         4365                                         4051                                          3251                                          3353                                         4351                                          3574                                          8463                                          5352                                          3647                                          3357                                          3246                                          2555                                          4358                                          4664                                          6463                                          6351                                           2973                                           4668                                           49 A magazine publishes restaurant ratings for various locations around the world. The magazine rates the restaurants for food, decor, service, and the cost per person. Develop a regression model to predict the cost per person, based on a variable that represents the sum of the threeratings. The magazine has compiled the accompanying table of this summated ratings variable and the cost per person for 25 restaurants in a major city. Complete parts (a) through (e) below.Click the icon to view the table of summated ratings and cost per person.a. Construct a scatter plot. Choose the correct graph below.A.В.О с.D.ACost ($)90-ACost ($)90-ACost ($)90-ACost ($)90-0+0-0+90909090RatingRatingRatingRatingb. Assuming a linear relationship, use the least-squares method to compute the regression coefficients bo and b1.bo =|and b1%3D(Round to two decimal places as needed.)c. Interpret the meaning of the Y-intercept, bo, and the slope, b,. Choose the correct answer below.O A. The Y-intercept, bo, implies that if the summated rating of a restaurant is zero, the cost per meal is equal to bo, in dollars. The slope, b1, implies that for each increase of 1 in the summated rating, the cost per person is expected to decrease by b1, in dollars.B. A practical interpretation of the Y-intercept bo is not meaningful because no operating restaurant is likely to have a rating of zero. The slope b, implies that for each increase of 1 in the summated rating, the cost per person is expected to increase by the value of b,, in dollars.C. The Y-intercept, bo, implies that if the summated rating of a restaurant is zero, the cost per meal is equal to bo, in dollars. The slope, b1, implies that for each increase of 1dollar in the cost per person, the summated rating is expected to increase by b,.D. The Y-intercept, bo, implies that if the summated rating of a restaurant is zero, the cost per person is bo, in dollars. The slope, b1, implies the average cost per person is b, dollars.

Accepted Answer

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