A business analyst developed a multiple regression model to predict the average price of a meal at a restaurant in a western city. After exploring several variables that might affect the average price, the analyst decides the three most important variables that decide the price of a meal are (1) how long the restaurant is open (i.e., how many hours in a week), (2) how likely you are to be seated when you get to the restaurant, and (3) whether the restaurant is downtown or not. Use the following data and a computer to develop such a model. Comment on the output.

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Price $ 5.55 7.76 12.26 15.00 9.15 6.48 8.49 20.95 Hours 72 55 48 60 52 62 65 48 Probability of Being Seated 0.37 0.64 0.51 0.32 0.62 0.83 0.62 0.43 Downtown* 0 0 1 1 0 0 0 1