Question

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. Click the icon to view the table of summated ratings and cost per person. a. Construct a scatter plot. Choose the correct graph below. b. Assuming a linear relationship, use the least-squares method to compute the regression coefficients $b_0$ and $b_1$. $b_0 = -35.73$ and $b_1 = 1.36$ (Round to two decimal places as needed.) c. Interpret the meaning of the Y-intercept, $b_0$, and the slope, $b_1$. Choose the correct answer below. A. A practical interpretation of the Y-intercept $b_0$ is not meaningful because no operating restaurant is likely to have a rating of z dollars. B. The Y-intercept, $b_0$, implies that if the summated rating of a restaurant is zero, the cost per meal is equal to $b_0$, in dollars. The C. The Y-intercept, $b_0$, implies that if the summated rating of a restaurant is zero, the cost per meal is equal to $b_0$, in dollars. The D. The Y-intercept, $b_0$, implies that if the summated rating of a restaurant is zero, the cost per person is $b_0$, in dollars. The slope d. Predict the mean cost per person for a restaurant with a summated rating of 40. $\hat{Y} = \$$ per person (Round to the nearest cent as needed.)

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.
Click the icon to view the table of summated ratings and cost per person.
a. Construct a scatter plot. Choose the correct graph below.
b. Assuming a linear relationship, use the least-squares method to compute the regression coefficients $b_0$ and $b_1$.
$b_0 = -35.73$ and $b_1 = 1.36$
(Round to two decimal places as needed.)
c. Interpret the meaning of the Y-intercept, $b_0$, and the slope, $b_1$. Choose the correct answer below.
A. A practical interpretation of the Y-intercept $b_0$ is not meaningful because no operating restaurant is likely to have a rating of z dollars.
B. The Y-intercept, $b_0$, implies that if the summated rating of a restaurant is zero, the cost per meal is equal to $b_0$, in dollars. The
C. The Y-intercept, $b_0$, implies that if the summated rating of a restaurant is zero, the cost per meal is equal to $b_0$, in dollars. The
D. The Y-intercept, $b_0$, implies that if the summated rating of a restaurant is zero, the cost per person is $b_0$, in dollars. The slope
d. Predict the mean cost per person for a restaurant with a summated rating of 40.
$\hat{Y} = \$$ per person (Round to the nearest cent as needed.)

Added by Julia H.

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