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Zagat’s publishes restaurant ratings for various locations in the United States. The file Restaurants contains the Zagat rating for food, decor, service, and the cost per person for a sample of 100 restaurants located in New York City and in a suburb of New York City. Develop a regression model to predict the cost per person, based on a variable that represents the sum of the ratings for food, decor, and service.
a. Construct a
b. Assuming a linear relationship, use the least-squares method to compute the regression coefficients
c. Interpret the meaning of the Y intercept.
d. Predict the mean cost per person for a restaurant with a summated rating of 50.
e. What should you tell the owner of a group of restaurants in this geographical area about the relationship between the summated rating and the cost of a meal?
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Chapter 13 Solutions
Basic Business Statistics Student Value Edition Plus NEW MyLab Statistics with Pearson eText -- Access Card Package (13th Edition)
- Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw HillBig Ideas Math A Bridge To Success Algebra 1: Stu...AlgebraISBN:9781680331141Author:HOUGHTON MIFFLIN HARCOURTPublisher:Houghton Mifflin HarcourtHolt Mcdougal Larson Pre-algebra: Student Edition...AlgebraISBN:9780547587776Author:HOLT MCDOUGALPublisher:HOLT MCDOUGAL
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