Zagat restaurant guides publish ratings of restaurants for many large cities aro

Question

Zagat restaurant guides publish ratings of restaurants for many large cities around the world. The restaurants are rated on a 0 to 30 point scale based on quality of food, decor, service, and cost. Suppose the regression equation that predicts the cost of dinner using the rating of the quality of food for the restaurants in a particular city is (cost of dinner) = 4.699*(food quality) + 2.682. If a restaurant in the city was given a Zagat rating of 18.834 and the average cost of dinner there is $148.528, what is the residual? Question 6 options: 1) -129.694 2) 57.345 3) 129.694 4) -72.349 5) -57.345 Zagat restaurant guides publish ratings of restaurants for many large cities around the world. The restaurants are rated on a 0 to 30 point scale based on quality of food, decor, service, and cost. Suppose the regression equation that predicts the cost of dinner using the rating of the quality of food for the restaurants in a particular city is (cost of dinner) = 4.699*(food quality) + 2.682. If a restaurant in the city was given a Zagat rating of 18.834 and the average cost of dinner there is $148.528, what is the residual? Zagat restaurant guides publish ratings of restaurants for many large cities around the world. The restaurants are rated on a 0 to 30 point scale based on quality of food, decor, service, and cost. Suppose the regression equation that predicts the cost of dinner using the rating of the quality of food for the restaurants in a particular city is (cost of dinner) = 4.699*(food quality) + 2.682. If a restaurant in the city was given a Zagat rating of 18.834 and the average cost of dinner there is $148.528, what is the residual? 1) -129.694 2) 57.345 3) 129.694 4) -72.349 5) -57.345 1) -129.694 2) 57.345 3) 129.694 4) -72.349 5) -57.345 1) -129.694 2) 57.345 3) 129.694 4) -72.349 5) -57.345

Explanation / Answer

For a food quality rating of 18.834, the predicted cost would be computed as:

(cost of dinner) = 4.699*(food quality) + 2.682

(cost of dinner) = 4.699*18.834 + 2.682 = 91.182966

Now as the actual value given is: $148.528

Therefore the residual value is computed as:

Residual = Observed value - Predicted value

Residual = $148.528 - $91.182966 = 57.345034

Therefore 2) 57.345034 is the correct answer here.

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