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The American Chamber of Commerce Researchers Association compiles cost-of-living indexes for selected metropolitan areas. Shown here (in the dataset posted on Canvas under Week 9
The American Chamber of Commerce Researchers Association compiles cost-of-living indexes for selected metropolitan areas. Shown here (in the dataset posted on Canvas under Week 9 folder) 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 | Housing | Utilities | Transportation | Healthcare |
108.3 | 106.8 | 127.4 | 89.1 | 107.5 |
96.3 | 105.2 | 98.8 | 100.9 | 102.1 |
96.2 | 88.8 | 115.6 | 102.3 | 94.0 |
98.0 | 83.9 | 87.7 | 97.4 | 94.9 |
106.0 | 114.1 | 108.1 | 112.8 | 111.5 |
103.1 | 117.3 | 127.6 | 107.8 | 100.8 |
94.5 | 88.5 | 74.6 | 93.3 | 102.4 |
105.4 | 98.9 | 108.9 | 110.0 | 106.8 |
91.5 | 108.3 | 97.2 | 105.9 | 114.3 |
94.3 | 95.1 | 111.4 | 105.7 | 96.2 |
102.9 | 94.6 | 90.9 | 104.2 | 91.4 |
96.0 | 99.7 | 92.1 | 102.7 | 97.4 |
96.1 | 90.4 | 96.0 | 106.0 | 96.1 |
89.8 | 92.4 | 96.3 | 95.6 | 93.6 |
93.2 | 88.0 | 91.7 | 91.6 | 82.3 |
103.3 | 211.3 | 75.6 | 102.1 | 128.5 |
94.6 | 91.0 | 79.4 | 102.4 | 88.4 |
99.1 | 86.2 | 91.1 | 101.1 | 85.5 |
100.3 | 123.0 | 125.6 | 104.3 | 137.8 |
92.8 | 112.3 | 105.2 | 106.0 | 107.5 |
99.9 | 81.1 | 104.9 | 102.8 | 92.2 |
95.8 | 107.7 | 91.6 | 98.1 | 90.9 |
104.0 | 83.4 | 122.2 | 98.2 | 87.0 |
98.2 | 79.4 | 103.4 | 97.3 | 97.1 |
95.7 | 98.7 | 96.3 | 104.6 | 115.2 |
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