Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In the Excel document, you will find the 2018 data for 17 cities in the data set Cost of Living. Included are the 2018 cost

In the Excel document, you will find the 2018 data for 17 cities in the data set Cost of Living. Included are the 2018 cost of living index, cost of a 3-bedroom apartment (per month), price of monthly transportation pass, price of a mid-range bottle of wine, price of a loaf of bread (1 lb.), the price of a gallon of milk and price for a 12 oz. cup of black coffee.All prices are in U.S. dollars.

You use this information to run a Multiple Linear Regression to predict Cost of living, along with calculating various descriptive statistics.This is given in the Excel output (that is, the MLR has already been calculated.Your task is to interpret the data).

Based on this information, in which city should you open a second office in and Why?

I will give thumbs up if the question in bold is answered. TIA! :)

?

image text in transcribed
City Cost of Living Index Rent (in City Centre) Monthly Pubic Trans Pass Loaf of Bread Milk Mumbai 31.74 Coffee $1,642.68 Bottle of Wine (mid-range) $7.66 $0.41 $2.93 $10.73 Prague $1.63 50.95 $1,240.48 $25.01 $0.92 $3.14 $5.46 Warsaw 45.45 $2.17 $1,060.06 $30.09 $0.69 $2.68 $6.84 Athens $1.98 63.06 $569.12 $35.31 $0.80 $5.35 $8.24 Rome 78.19 $2.88 $2,354.10 $41.20 $1.38 $6.82 $7.06 Seoul 83.45 $1.51 $2,370.81 $50.53 $2.44 $7.90 Brussels $17.57 82.2 $1,734.75 $1.79 $57.68 $1.66 $4.17 Madrid $8.24 $1.51 66.75 $1,795.10 $64.27 $1.04 $3.63 Vancouver $5.89 74.06 $1.58 $2,937.27 $74.28 $2.28 $7.12 $14.38 Paris 89.94 $1.47 $2,701.61 $85.92 $1.56 $4.68 $8.24 Tokyo $2,197.03 $1.51 92.94 $88.77 $1.77 $6.46 Berlin $17.75 71.65 $1.49 $1,695.77 $95.34 $1.24 $3.52 Amsterdam $5.89 $1.71 85.9 $2,823.28 $105.93 $1.33 $4.34 New York $7.06 $1.71 100 $5,877.45 $121.00 $2.93 $3.98 $15.00 Sydney 90.78 $0.84 $3,777.72 $124.55 $1.94 $4.43 Dublin $14.01 87.93 $3,025.83 $2.26 $144.78 $1.37 $4.31 $14.12 London 88.33 $2.06 $4,069.99 $173.81 $1.23 $4.63 $10.53 $1.90 mean 75.49 $2,463.12 $78.01 $1.47 $4.71 median $10.41 $1.76 82.2 $2,354.10 $74.28 $1.37 $4.34 $8.24 $1.71 min 31.74 $569.12 $7.66 $0.41 $2.68 $5.46 $0.84 max 100 $5,877.45 $173.81 $2.93 $7.90 $17.75 $2.88 Q1 66.75 $1,695.77 $41.20 $1.04 $3.63 $7.06 $1.51 Q3 88.33 $2,937.27 $105.93 $1.77 $5.35 New York $14.12 $1.98 100 $5,877.45 $121.00 $2.93 $3.98 $15.00 $0.84

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

EnVision Algebra 1

Authors: Al Cuoco, Christine D. Thomas, Danielle Kennedy, Eric Milou, Rose Mary Zbiek

Student Edition

0328931578, 978-0328931576

More Books

Students also viewed these Mathematics questions