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Please do the work on EXCEL and show the process srceenshot The American Chamber of Commerce Researchers Association compiles cost-of-living indexes for selected metropolitan areas.
Please do the work on EXCEL and show the process srceenshot
The American Chamber of Commerce Researchers Association compiles cost-of-living indexes for selected metropolitan areas. Shown here are cost-of-living indexes for 25 different cities on five different items for a recent year. Use the data to develop a regression model to predict the grocery cost-of-living index by the indexes of housing, utilities, transportation, and healthcare. Discuss the results, highlighting both the significant and nonsignificant predictors. Grocery Items City Housing Utilities Transportation Healthcare 108.3 106.8 127.4 89.1 107.5 Albany Albuquerque Augusta, GA 96.3 105.2 98.8 100.9 102.1 96.2 88.8 115.6 102.3 94.0 Austin 98.0 83.9 87.7 97.4 94.9 Baltimore 106.0 114.1 108.1 112.8 111.5 Buffalo 103.1 117.3 127.6 107.8 100.8 Colorado Springs 94.5 88.5 74.6 93.3 102.4 Dallas 105.4 98.9 108.9 110.0 106.8 Denver 91.5 108.3 97.2 105.9 114.3 Des Moines 94.3 95.1 111.4 105.7 96.2 El Paso 102.9 94.6 90.9 104.2 91.4 Indianapolis 96.0 99.7 92.1 102.7 97.4 Jacksonville 96.1 90.4 96.0 106.0 96.1 Kansas City 89.8 92.4 96.3 95.6 93.6 Knoxville 93.2 88.0 91.7 91.6 82.3 Los Angeles 103.3 211.3 75.6 102.1 128.5 Louisville 94.6 91.0 79.4 102.4 88.4 Memphis 99.1 86.2 91.1 101.1 85.5 Miami 100.3 123.0 125.6 104.3 137.8 Minneapolis 92.8 112.3 105.2 106.0 107.5 Mobile 99.9 81.1 104.9 102.8 92.2 Nashville 95.8 107.7 91.6 98.1 90.9 New Orleans 104.0 83.4 122.2 98.2 87.0 Oklahoma City 98.2 79.4 103.4 97.3 97.1 Phoenix 95.7 98.7 96.3 104.6 115.2 *(Round your answer to 3 decimal place.) **(Round your answer to 2 decimal place.) The regression model was: Grocery 76.319 * + 0.086 *) Housing + 0.168 J*) Utility + 0.0284 *) Transportation + -0.066 J*) Healthcare 2.29 01018 F= ** with p = which is not significant at a = .05. 4.416 0.177 0.316 J*, and adjusted R2 J*, R2 Se = = 2.57 0.018 ** and p = Only one of the four predictors has a significant t ratio and that is Utility with t = The ratios and their respective probabilities are: 1.677 ** with p = 0.11 0.17 -0.64 t housing 0.530 0.870 *, and t healthcare = = *, t transportation = ** with p = J** with p = This model is very weak v Only the predictor, Utility, shows much promise in accounting for the grocery variability. LINK TO TEXTStep by Step Solution
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