EBK BUSINESS STATISTICS
8th Edition
ISBN: 9780135179833
Author: STEPHAN
Publisher: VST
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A magazine publishes restaurant ratings for various locations around the world. The magazine rates the restaurants for food, decor, service, and the cost per person. Develop a regression model to predict the cost per person, based on a variable that represents the sum of the three
ratings. The magazine has compiled the accompanying table of this summated ratings variable and the cost per person for 25 restaurants in a major city. Complete parts (a) through (e) below.
Click the icon to view the table of summated ratings and cost per person.
.....
a. Construct a scatter plot. Choose the correct graph below.
A.
Ов.
С.
D.
ACost ($)
90-
ACost ($)
90-
ACost ($)
90-
ACost ($)
90-
0-
0-
90
90
90
90
Rating
Rating
Rating
Rating
b. Assuming a linear relationship, use the least-squares method to compute the regression coefficients b, and b,.
bo = and b,
(Round to two decimal places as needed.)
c. Interpret the meaning of the Y-intercept, bo, and the slope, b,. Choose the correct answer below.
O A.…
A magazine publishes restaurant ratings for various locations around the world. The magazine rates the restaurants for food, decor, service, and the cost per person. Develop a regression model to predict the cost per person, based on a variable that represents the sum of the three ratings. The magazine has compiled the
accompanying table of this summated ratings variable and the cost per person for 25 restaurants in a major city. Complete parts (a) through (e) below.
Click the icon to view the table of summated ratings and cost per person.
a. Construct a scatter plot. Choose the correct graph below.
O A.
Ов.
OC.
OD.
ACost ($)
90-
Q
A Cost ($)
904
A Cost ($)
90-
ACost ($)
90-
0-
0-
0-
0-
90
Rating
90
Rating
90
90
Rating
Rating
Summated ratings and cost per
person
b. Assuming a linear relationship, use the least-squares method to compute the regression coefficients bo and b,.
bo =D and b, =O
(Round to two decimal places as needed.)
Summated Rating Cost ($ per person)|9
c. Interpret the…
A magazine publishes restaurant ratings for various locations around the world. The magazine rates the restaurants for food, decor, service, and the cost per person. Develop a regression model to predict the cost per person, based on a variable that represents the sum of the
three ratings. The magazine has compiled the accompanying table of this summated ratings variable and the cost per person for 25 restaurants in a major city. Complete parts (a) through (e) below.
Click the icon to view the table of summated ratings and cost per person.
a. Construct a scatter plot. Choose the correct graph below.
O A.
90+
0
0
Cost ($)
The
M
Rating
90
Q
O B.
A Cost (5)
90+
0
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+4
Alpe
Rating
90
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b. Assuming a linear relationship, use the least-squares method to compute the regression coefficients bo and b₁.
bo= and b₁ =
(Round to two decimal places as needed.)
C
O C.
90+
0-
Cost (S)
HA
Rating
90
Q
Summated Ratings and Cost Per Person
Summated Rating Cost ($ per person)
40
48
60
61
42
40
43
55
67
69…
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- What is regression analysis? Describe the process of performing regression analysis on a graphing utility.arrow_forwardFind the mean hourly cost when the cell phone described above is used for 240 minutes.arrow_forwardLife Expectancy The following table shows the average life expectancy, in years, of a child born in the given year42 Life expectancy 2005 77.6 2007 78.1 2009 78.5 2011 78.7 2013 78.8 a. Find the equation of the regression line, and explain the meaning of its slope. b. Plot the data points and the regression line. c. Explain in practical terms the meaning of the slope of the regression line. d. Based on the trend of the regression line, what do you predict as the life expectancy of a child born in 2019? e. Based on the trend of the regression line, what do you predict as the life expectancy of a child born in 1580?2300arrow_forward
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