In the early 1990s researchers at The Ohio State University studied consumer ratings of six fast-food restaurants: Borden Burger. Hardee's. Burger King. McDonald's. Wendy's, and White Castle. Each of 406 randomly selected individuals gave each restaurant a rating of 1, 2. 3. 4. 5, or 6 on the basis of taste, and then ranked the restaurants from I through 6 on the basis of overall preference. In each case, 1 is the best rating and 6 the worst. The mean ratings given by the 406 individuals are given in the following table:

Figure 13.16 gives the Excel output of a simple linear regression analysis of this data. Here, mean preference is the dependent variable and mean taste is the independent variable. Recall that a labeled Excel regression output is given on page 535.
a. Find the least squares point estimate b0 of β1, on the computer output. Report and interpret this estimate.
b. Find the 95 percent confidence interval for β1 on the output. Report and interpret the interval.

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Mean Taste Mean Preference Restaurant Borden Burger 3.5659 4.2552 Hardee's Burger King McDonalds Wendy's 3.329 2.4231 20895 2.2429 4.0911 3.0052 1.9661 2.5351 White Castle 38061 7812 4.7812