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In particular you have been asked to (a) Develop a regression model that directly predicts the price of dinner ( in dollars) usin a subset
In particular you have been asked to (a) Develop a regression model that directly predicts the price of dinner ( in dollars) usin a subset or all of four potential predictor variables listed above. (b) Determine which of the predictor variables Food, Decor and Service has the large estimated effect on price? Is this effect also the most statistically significant. (c) If the aim is to choose the location of the restaurant so that the price achieved for dinn is maximized, should the new restaurant be on the east or west of Fifth Avenue? (d) Does it seems possible to achieve a price premium for " setting a new standard fo high-quality service in Manhattan" for Italian restaurants? (e) Identify the restaurants in the data set which, given the customer rating, are usually ( unusually highly priced; and (ii) unusually lowly priced
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