70.2K

Verified Solution

Link Copied!

A magazine used the summated rating of 10 restaurants to predict the cost of a restaurant meal For that data SSR 132 092 26 and SST 142 845 11 Complete parts a through c a Determine the coefficient of determination 2 and interpret its meaning 2 Round to four decimal places as needed Interpret the meaning of r It means that of the variation in the cost of a meal Round to two decimal places as needed b Determine the standard error of the estimate be explained by the variation in summated ratings Syx Round to four decimal places as needed c How useful do you think this regression model is for predicting the cost of a meal OA 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 OB 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 OC 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 OD 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

Answer & Explanation Solved by verified expert

See Answer