In Problem 13.5 on page 531, you used the summated rating to predict the cost of a

Question:

In Problem 13.5 on page 531, you used the summated rating to predict the cost of a restaurant meal (stored in Restaurants). For those data, SSR = 6,591.3963 and SST = 15,890.11
a. Determine the coefficient of determination, r2, and interpret its meaning.
b. Determine the standard error of the estimate.
c. How useful do you think this regression model is for predicting audited sales?
In problem
Zagat's publishes restaurant ratings for various locations in the United States. The file Restaurants contains the Zagat rating for food, décor, service, and the cost per person for a sample of 100 restaurants located in NewYork City and in a suburb of NewYork City. Develop a regression model to predict the price per person, based on a variable that represents the sum of the ratings for food, décor, and service.
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Basic Business Statistics Concepts And Applications

ISBN: 9780132168380

12th Edition

Authors: Mark L. Berenson, David M. Levine, Timothy C. Krehbiel

Question Posted: