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Each additional rating point of food quality is associated with a $2.88 increase in the expected price of meal, after controlling for location.
The premium for an Italian restaurant in NYC associated with being on the east side of 5th Avenue is $1.46, after controlling for the quality of the food.
The change in the coefficient of food from $2.94 in the simple linear model to $2.88 in this model has profound practical implications for restaurant owners.
The solution suggests that all statements are false. However, only the last should be marked as false, to my understanding.
Thanks,
Christina Bogner
The text was updated successfully, but these errors were encountered:
I think there is an error in the quiz:
Identify the statement that is FALSE:
The solution suggests that all statements are false. However, only the last should be marked as false, to my understanding.
Thanks,
Christina Bogner
The text was updated successfully, but these errors were encountered: