A part ranking system determine he cost of lving in the mnst expensive cities in
ID: 3239765 • Letter: A
Question
A part ranking system determine he cost of lving in the mnst expensive cities in world as an dex This index scales city X as 100 an the cost of living in other cities ntage of the city X cos For example, in 20DT, the cost of living expresses index in city Y was 12 5, which means that was 22% higher than city X. he accompanying scatterp shows he index tor 200 plotted against the 2006 index for 15 cities. Complete parts e through e below lot Click the icon to view the data table and scatterplot ay Dcscribe the association betwccn the t of living indiccs in 2007 and 2006. choose the correct ans bekyw The associaliori between he cusl ur living indices in 2007 and 2006 is negalive linear, and weal The association belweer e cosl of living indices in 2007 and 2006 is negalive, lirlear, and sliung. The association between lle cus Ur living indices in 2007 and 2006 is posilive, linear, and sliung associaliun b e cost or living indice 2007 and 2006 positive, wrved. and sliu he association between the cost or living indices in 200 and 2006 is positive inear and weak There no assocat Data Table and scatterplot by The R for the regression equation is 0.853. Interpret the value of R Select the correct choice below and fil in the answer box to complete your choice. (Type a eger or a decimal The value of indicates the percentage of the variability in cost of living in 2007 that cannot be explained by wariability in cost of iving in 200 The value of R 85.3 indicates the percentage of the variability in cost of living in 2007 that can be explained by ability in cost of living in 2006 e of R2 The valu indicates the percentage of the variability in cost of living in 2006 that cannot be explained by variabilit, in cost of living in 200 The value indicales percenlage of Ule variability in cost living in 2006 thal can be explained by variabilly in ovsl of living in 2007 Hind the cl or relation The correlation c oefficient is 92 Roul nd to three decimal places as needed dy Using the data provided nd the least S h10 tne Z007 dex ta the 2006 inde 10 93.3 95.9 2006 Index 12 102 22 1038 2007 Index Enter your answer in the edit flelds and then click Check Answer 151 1212 127 parts Clea remaining Print Done :23 AM Type here to search 64/20Explanation / Answer
Index 2006
Index 2007
117.2
121.5
118.1
122.3
99.5
111.2
93.1
98.4
111.4
123.9
110.1
120.3
97.6
99.8
104.7
106.5
99.4
108.9
93.3
95.9
117.3
121.7
102.2
106.6
109.4
122.1
111.7
113.7
121.2
127.8
First we input the values in excel in two columns. Then we go to Data, there we select Data Analysis. Under Data Analysis we select Regression. There we select the values of y (index 2007) and x (index 2006). Finally we click OK and got the regression output.
SUMMARY OUTPUT
Regression Statistics
Multiple R
0.924
R Square
0.853
Adjusted R Square
0.842
Standard Error
4.105
Observations
15
ANOVA
df
SS
MS
F
Significance F
Regression
1
1270.800874
1270.8009
75.41898
9.00266E-07
Residual
13
219.0484597
16.849882
Total
14
1489.849333
Coefficients
Standard Error
t Stat
P-value
Lower 95%
Upper 95%
Intercept
3.331
12.71548828
0.2619711
0.7974488
-24.13905209
30.80123244
X Variable 1
1.028
0.118334327
8.6844102
9.003E-07
0.772018062
1.283309603
Question d)
Answer:
2007 Index^ = 3.331 + 1.028 x2006 Index
Index 2006
Index 2007
117.2
121.5
118.1
122.3
99.5
111.2
93.1
98.4
111.4
123.9
110.1
120.3
97.6
99.8
104.7
106.5
99.4
108.9
93.3
95.9
117.3
121.7
102.2
106.6
109.4
122.1
111.7
113.7
121.2
127.8
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