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    Using regression and EDA to relate ratings to price

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    Zagat's publishes restaurant ratings for various locations in the United States. The file RESTRATE.xls contains the Zagat rating for food, décor, service, and the price per person for a sample of 53 restaurants located in New York City and 53 restaurants located in Long Island. Suppose you wanted to 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. Using EXCEL or PHStat2, answer the following: The following is a minimum guideline about what you should analyze. For example, you may have to use such tools as confidence interval estimates, one or two-sample tests on the data to improve the quality of your report.
    a) State your statistical objective for this data set.
    b) Perform exploratory data analysis using numerical measures or the box-and-whisker plot for this data set.
    c) Construct a scatter diagram of price against summated rating. Describe the relationship that you think there may be. Does this appear to have some association (linear or non-linear)?
    d) Construct a scatter diagram of price against each of food, décor, and service separately. Describe the relationship that you see from each diagram. Does any of these appear to have some association?

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    Solution Summary

    The analysis involve using regression and EDA (Exploratory Data Analysis) to model the effect of restaurant ratings on price in two cities: New York and Long Island. We explore each variable using charts and numerical statistics. Then we apply Anova and ancova to model the effect.