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[10 marks] Marco an esteemed Food & Wine critic is analysing data of restaurants in relation to the price of a standard glass of wine
[10 marks] Marco an esteemed Food & Wine critic is analysing data of restaurants in relation to the price of a standard glass of wine and how much is spent on a main meal A sample of 50 restaurants has been randomly collected, and the variables Price of Wine ($) and Price of a Main Meal ($) are displayed as a scatterplot below, together with the regression output. Price of a Main Meal vs Price of Wine ($) iso 20.0 Price of a Main Meal ($ 15.0 10.0 y = 1.8639x + 0.258 R = 0.6885 s.o r= 0.8298 610 B.D 10.0 110 12.0 13.0 140 15.0 16.0 Price of Wine ($) (a) (3 marks) Which is the independent and which is the dependent variable for this question? By referring to the scatterplot and correlation coefficient, explain why a regression model is appropriate for this data. (b) (2 marks) What is the value of the coefficient of determination? Interpret its value. (c) (5 marks) If a glass of wine is priced at $15 then use the regression model to predict the average Price of a Main Meal (S). Perform this prediction, explain whether this prediction is likely to be accurate and if the model is likely to over-predict or under-predict for this particular glass of wine
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