Assuming a linear relationship,use the least-squares method to compute the regression coefficients bo and b1. b0=-39.35andb1=1.42 (Round to two decimal places as needed. c.Interpret the meaning of the Y-intercept,bo,and the slope,b1.Choose the correct answer below. O A.The Y-intercept,bo,implies that if the summated rating of a restaurant is zero,the cost per meal is equal to bo,in dollars.The slope,b1,implies that for each increase of 1 in the summated rating,the cost per person is expected to decrease by b1,in dollars. B.The Y-intercept,bo,implies that if the summated rating of a restaurant is zero,the cost per meal is equal to bo,in dollars.The slope,b1,implies that for each increase of 1dollar in the cost per person,the summated rating is expected to increase by b1. OC.A practical interpretation of the Y-intercept bo is not meaningful because no operating restaurant is likely to have a rating of zero.The slope b1 implies that for each increase of 1 in the summated rating,the cost per person is expected to increase by the value of b1,in dollars. OD.The Y-intercept,bo,implies that if the summated rating of a restaurant is zero,the cost per person is bo,in dollars.The slope,b,implies the average cost per person is b dollars.

Predict the mean cost per person for a restaurant with a summated rating of 60. Y;=$45.85 per person(Round to the nearest cent as needed.) e.What should you tell the owner of a group of restaurants in this geographical area about the relationship between the summated rating and the cost of a meal? OA.As expected,the lower the summated rating of the restaurant,the higher the restaurant can charge per meal. O B.As expected,the higher the summated rating of the restaurant,the less the restaurant can charge per meal. OC.As expected,the summated rating of the restaurant is not associated with what the restaurant can charge per meal. O D.As expected,the higher the summated rating of the restaurant,the higher the restaurant can charge per meal.

The total amount of money that needs to be paid to wholesale a batch of cakes is considered a function of the quantity it has wholesed. To estimate this relationship, a cake wholesaler randomly selected 20 customers and collected information on their patterns of total payment amount (Y, USD) and wholesale quantity (X, a cake) in May of this year. Assuming a linear relationship between Y and X, the professor uses the least squares method and finds that the Y intercept = 15.90 and the slope = -0.55. Based on this information, the slope should be interpreted as:A.For each additional cake purchase, the total amount that customers will pay for wholesale cakes is estimated to be decreased by $0.55B.For each additional cake purchase, the total amount customers will have to pay for wholesale cakes is estimated to increase by $15.90C.For each additional cake purchase, the total amount customers will pay for wholesale cakes is estimated to decrease by $15.35D.For each additional cake purchase, the total amount paid by the customer for wholesale cake is estimated to increase by $0.55SUBMIT ANSWER

Write down the estimated regression equation for the relationship between temperature and ice cream sales and provide an interpretation of the slope coefficient.

Determine the standard error of the estimate. Syx=31.2058 (Round to four decimal places as needed.) c.How useful do you think this regression model is for predicting the cost of a meal? A.It is very useful for predicting the cost of a meal because the coefficient of determination is close to 1.The standard error of the estimate does not indicate whether a regression model is useful. O B.It is very useful for predicting the cost of a meal because the coefficient of determination is close to 1 and the standard error of the estimate is fairly small. O C.It is not very useful for predicting the cost of a meal because although the coefficient of determination is close to 1,the standard error of the estimate is fairly small. O D.It is not very useful for predicting the cost of a meal because the coefficient of determination is close to 0 and the standard error of the estimate is fairly large.

consumer's spending is widely believed to be a function of their income. To estimate this relationship, a university professor randomly selected 19 of his students and collected information on their spending (Y, in dollars) and income (X, in dollars) patterns in week 6 of the semester. Assuming a linear relationship between Y and X, the professor used the least-squares method and found that the Y intercept = 20.90 and the slope = 0.66. Based on this information, the slope should be interpreted as: a. For each increase of $1in a student's weekly spending, his/her mean value of weekly income is estimated to increase by $0.66 (or 66 cents). b. For each increase of $1in a student's weekly income, his/her mean value of weekly spending is estimated to increase by $20.90. c. For each increase of $1 in a student's weekly income, his/her mean value of weekly spending is estimated to increase by $0.66 (or 66 cents). d. For each increase of $1 in a student's daily income, his/her mean value of daily spending is estimated to increase by 0.66 cents.