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 o 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) bolow. Click the icon to view the table of summated ratings and cost per person. a. Construct a scatter plot. Choose the correct graph below. \begin{tabular}{|c|c|} \hline Summated Rating & Cost (\$ per person) \\ \hline 54 & 37 \\ \hline 68 & 48 \\ \hline 70 & 62 \\ \hline 66 & 60 \\ \hline 63 & 45 \\ \hline 57 & 42 \\ \hline 54 & 43 \\ \hline 61 & 44 \\ \hline 51 & 35 \\ \hline 51 & 31 \\ \hline 52 & 39 \\ \hline 51 & 36 \\ \hline 74 & 86 \\ \hline 63 & 52 \\ \hline 53 & 37 \\ \hline 49 & 34 \\ \hline 55 & 33 \\ \hline \end{tabular} \begin{tabular}{|c|c|} \hline 55 & 33 \\ \hline 45 & 23 \\ \hline 57 & 39 \\ \hline 54 & 44 \\ \hline 66 & 64 \\ \hline 62 & 61 \\ \hline 55 & 26 \\ \hline 73 & 47 \\ \hline 69 & 47 \\ \hline \end{tabular} 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. b. Assuming a linear relationship, use the least-squares method to compute the regression coefficients b0 and b1. b0= and b1= (Round to two decimal places as needed.) c. Interpret the meaning of the Y-intercept, b0, and the slope, b1. Choose the correct answer below. A. The Y-intercept, b0, implies that if the summated rating of a restaurant is zero, the cost per meal is equal to b0. 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. The Y-intercept, b0. implies that if the summated rating of a restaurant is zero, the cost per meal is equal to b0, 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 b1 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 surn of the three ratings. The magazine has compiled the accomparying table of this summated ratings variable and the cost per person for 25 restaurants in a major city. Complete parts (a) through (e) balor. A. The Y-intercept, b0. implies that if the summated rating of a restaurant is zero, the cost per meal is equal to b0, 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. The Y-intercept, b0, implies that if the summated rating of a restaurant is zero, the cost per meal is equal to b0, in dollars. The slope, b1, implies that for each increase of 1 dollar in the cost per person, the summated rating is expected to increase by b1. C. A practical interpretation of the Y-intercept b0 is not meaningful because no operating restaurant is likely to have a rating of zero. The slope b1 implies that for each increase of 1 in the summated rating. the cost per person is expected to increase by the value of b1, in dollars. D. The Y-intercept, b0. implies that if the summated rating of a restaurant is zero, the cost per person is b0, in dollars. The slope, b1. implies the average cost per person is b1 dollars. d. Predict the mean cost per person for a restaurant with a summated rating of 60 . Y^1= per person (Round to the nearest cent as needed.) 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? A. As expected, the summated rating of the restaurant is not associated with what the restaurant can charge per meal. B. As expected, the lower the summated rating of the restaurant, the higher the restaurant can charge per meal C. As expected, the higher the summated rating of the restaurant, the less the restaurant can charge per meal D. As expected, the higher the summated rating of the restaurant, the higher the restaurant can charge per meal
