In the Table below , 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? You must justify your answer. If you want to recommend 2 or 3 different cities and rank them based on the data and your findings, this is fine as well.

• Based on the MLR output, what variable(s) is/are significant?
• From the significant predictors, review the mean, median, min, max, Q1 and Q3 values?
  • It might be a good idea to compare these values to what the New York value is for that variable. Remember New York is the baseline as that is where headquarters are located.
• Based on the descriptive statistics, for the significant predictors, what city has the best potential?
  • What city or cities fall are below the median?
  • What city or cities are in the upper 3^rd quartile?

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