Estimating Utilities at ABCLiveHere $($MO$-2\mathrm{.}4)$

ABCLiveHere is making several apartments available for new leases. Renters will frequently call the staff to receive quotes for rental expenses, including electricity and pets. As pet food prices have been fluctuating the last few years, customers have become more conscious of the price per pound and its impact on their total cost of housing. As a potential service to its renters, ABCLiveHere has modified its Rental workbook to include information on its apartments$$ electricity usage and average amount of food the renter$$s pets consume. All that remains to be added is a more detailed analysis of the interaction between pet food prices and total cost of housing, and the amount of pet food per week consumed and its impact on the total cost of housing. Complete the following:

$1.$ Open the workbook named Rental.xlsx file and save it as ABCRental$($your last name$).$xlsx$.$

$2.$ Examine the Analysis worksheet and apply appropriate range names to cells D$17$:D$20.$

$3.$ In cells A$23$:A$28,$ enter the following cities in Tennessee: Murfreesboro, Smyrna, Manchester, Nashville, Franklin, and Woodbury. The values to enter are:

$4.$ In D$23$:$28,$ calculate the ratio of each cities$$ median household income to Murfreesboro$$s median household income. Murfreesboro will have a ratio of $1($its income divided by itself$),$ and other cities will be $>1$ when the income is higher than Murfreesboro$$s$.$ Assume that ABCLiveHere keeps the rental rates for its apartments based on the differences in income in the cities as compared to Murfreesboro $($meaning that cities with a greater household income will charge more for rent$).$ You decide that you$$d like to live in Smyrna. If Murfreesboro charges $$1000$ per month for rent, calculate the rental price for Smyrna in cell D$7($use an outside reference for the $$1000$ base rate, Label in cell F$16,$ the rate in cell G$16)$