Find out regression coefficients

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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

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