Find out regression coefficients

Reference no: EM13100020

Zagat's publishes restaurant ratings for various locations in the U.S. The Excel file Restaurants contains the Zagat rating for food, décor, service, and the cost per person for a sample of 100 restaurants located in NYC and in a suburb of NYC. 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.

a. Assuming a linear cost relationship, what are the regression coefficients, b0 and b1?

b. Predict the cost per person for a restaurant with a summated rating of 50.

c. What is the coefficient of determination, and what is its meaning?

Reference no: EM13100020

Questions Cloud

What most common primary malignant tumor of bones is called : The most common primary malignant tumor of bones is called.

Explain social class in united states society : Explain in detail the three main assumptions of Conflict Theory. In light of these assumptions, how do conflict theorists view stratification (social inequality) based on social class in United States society.

Case study - nordstroms performance goals : At Nordstrom, employee performance is directed towards a single goal - extraordinary service that produces extraordinary sales volumes. Every measure by which an employee is evaluated and rewarded is based on this goal.

Which of the following disease is an autosomal : Which of the following disease is an autosomal dominant cause of dwarfism?

Find out regression coefficients : Assuming a linear cost relationship, what are the regression coefficients, b0 and b1?

Which vitamin is essential for the formation of bones : Which vitamin is essential for the formation of bones.

How managers discourage social loafing : Your textbook describes some members of groups facing becoming "social loafers" when members of groups. Economists refer to this as "free-riding".

Finite population correction factor : Using the finite population correction factor, compute the standard error for each of the three firms given a sample of size 50.

Exponential distribution function-derivation of equation : Show how to generate a random variable from the exponential distribution function shown above. Show derivation of the equation.

User Account

All Pages