Zagat's publishes restaurant ratings for various locations in the United States. The file Restaurants contains the Zagat rating for food, decor, service, and the cost per person for a sample of 100 restaurants located in New York City and in a suburb of New York City. Develop a regression model to predict the cost per person, based on a variable that represents the sum of the ratings for food, decor, and service.
a. Construct a scatter plot. For these data, b0 = -43.1118 and b1 = 1.4689.
b. Assuming a linear relationship, use the least-squares method to compute the regression coefficients b0 and b\.
c. Interpret the meaning of the Y intercept, b0, and the slope, b\, in this problem.
d. Predict the cost per person for a restaurant with a sum-mated rating of 50.