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A magazine used the summated rating of 10 restaurants to predict the cost of a restaurant meal. For that data, SSR = 132,092.26 and
A magazine used the summated rating of 10 restaurants to predict the cost of a restaurant meal. For that data, SSR = 132,092.26 and SST = 142,845.11. Complete parts (a) through (c). a. Determine the coefficient of determination, 2, and interpret its meaning. 2=(Round to four decimal places as needed.) Interpret the meaning of 2. It means that % of the variation in the cost of a meal (Round to two decimal places as needed.) b. Determine the standard error of the estimate. Syx (Round to four decimal places as needed.) be explained by the variation in summated ratings. c. How useful do you think this regression model is for predicting the cost of a meal? OA. It is not very useful for predicting the cost of a meal because the coefficient of determination is close to 0 and the standard error of the estimate is fairly large. OB. It is very useful for predicting the cost of a meal because the coefficient of determination is close to 1 and the standard error of the estimate is fairly small. OC. It is very useful for predicting the cost of a meal because the coefficient of determination is close to 1. The standard error of the estimate does not indicate whether a regression model is useful. OD. It is not very useful for predicting the cost of a meal because although the coefficient of determination is close to 1, the standard error of the estimate is fairly small.
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