Question
A magazine used the summated rating of restaurants to predict the cost of a restaurant meal. For that data, ssr=131160.02 and sst=141018.92and Complete parts (a)
A magazine used the summated rating of restaurants to predict the cost of a restaurant meal. For that data, ssr=131160.02 and sst=141018.92and Complete parts (a) through (c). a. Determine the coefficient of determination r^2, and interpret its meaning. Interpret the meaning of r^2 . It means that ?% of the variation in the cost of a meal be explained by the variation in summated ratings. b. Determine the standard error of the estimate. syx= ? c. How useful do you think this regression model is for predicting the cost of a meal? A. 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. B. 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. C. 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. D. 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.
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