A magazine publishes restaurant ratings for various locations around the world. The magazine rates the restaurants forfood, decor, service, and the cost per person. Develop a regression model to predict the cost perperson, 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.

Summated_Rating Cost_($_per_person)

52 40

70 51

68 60

66 61

67 44

61 39

55 44

64 42

51 34

47 34

53 39

50 36

76 84

62 52

53 38

50 36

57 34

44 26

56 39

56 44

63 62

63 62

53 29

72 49

66 46

Assuming a linearrelationship, use theleast-squares method to compute the regression coefficients b0 and b1. Round to 2 decimal points as needed.

Predict the mean cost per person for a restaurant with a summated rating of 50.

What should you tell the owner of a group of restaurants in this geographical area about the realtionship between the summated rating and the cost of a meal?