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In this assignment, you will analyze the Cost-of-Living Index and Groceries Index for seven United States cities. You will then create a scatterplot to represent the relationships between the variables. In the end, you will describe the implications of your analysis in your Paper. You may choose any…
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In this assignment, you will analyze the Cost-of-Living Index and Groceries Index for seven United States cities. You will then create a scatterplot to represent the relationships between the variables. In the end, you will describe the implications of your analysis in your Paper. You may choose any seven United States cities you wish.
Go to the [Northern America: Current Cost of Living Index by CityLinks to an external site.](https://www.numbeo.com/cost-of-living/region_rankings_current.jsp?region=021) webpage and follow the directions below to get started:
– Identify seven cities and note the “Cost of Living Index” and “Groceries Index” values.
– In your Excel spreadsheet or tool of your choice, develop a table with three columns with the following titles:
– City
– Groceries Index (independent variable)
– Cost of Living Index (dependent variable)
– Enter details for all seven cities under these column headers. You will then have a table with seven rows representing each city in one row.
– Now, insert or draw a scatterplot of the above data set.
– Display the regression line (also called the trend line, linear model, or line of best fit). To do so in Excel, select anywhere in the scatterplot. Select the plus sign, and at the bottom of Chart Elements, select “Trend line.”
– Display the equation for the trend line and R2 value on the graph. To do so in Excel, right-select the trend line. Review the options on the right of the chart under “Format Trendline…” and scroll to the bottom to select the boxes for “Display Equation on chart” and “Display R-squared value on chart”
2-3 pages use book as reference