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The Worldwide Cost of Living Survey City Rankings determine the cost of living in the 10 most expensive cities in the world. These rankings scale
The Worldwide Cost of Living Survey City Rankings determine the cost of living in the 10 most expensive cities in the world. These rankings scale New York City as 100, and express the cost of living in other cities as a percentage of the New York cost. For example, the table below indicates that in Tokyo the cost of living was 22.1% higher than New York in 2007, and increased 27% higher in 2008. CITY X (2007) Y (2008) Moscow 134.4 142.4 Tokyo 122.2 127.0 London 126.3 125.0 Oslo 105.8 118.3 Seoul 122.4 117.7 Hong Kong 119.4 117.6 Copenhagen 110.2 117.2 Geneva 109.8 115.8 Zurich 107.6 112.7 Osaka 108.4 110.0 a. Sketch a scatterplot for the display of X and Y [1 MARK] b. Briefly describe the relationship between Y and X. [1 MARK] c. Suppose a regression model Y = A, + 6,(X,)+6, were used to predict Y by X, estimate #, and #, . [4 MARKS] d. Use the Durbin-Watson to test for the presence of autocorrelation in this analysis [4 MARKS]
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