MATH 302 American Military University Predicted Value of Cost of Living Analysis

Question Description

Assignment Instructions

please refer to attached grading criteria pdf for exactly what to do on the assignment (1-5)

Scenario Background:

A marketing company based out of New
York City is doing well and is looking to expand internationally. The
CEO and VP of Operations decide to enlist the help of a consulting firm
that you work for, to help collect data and analyze market trends.

You work for Mercer Human Resources. The Mercer Human Resource Consulting website (www.mercer.com)
lists prices of certain items in selected cities around the world. They
also report an overall cost-of-living index for each city compared to
the costs of hundreds of items in New York City (NYC). For example,
London at 88.33 is 11.67% less expensive than NYC.

More specifically, if you choose to explore the website further you
will find a lot of fun and interesting data. You can explore the
website more on your own after the course concludes.

https://mobilityexchange.mercer.com/Insights/cost-of-living-rankings#rankings

Assignment Guidance:

In the Excel document, you will find
the 2018 data for 17 cities in the data set Cost of Living. Included
are the 2018 cost of living index, cost of a 3-bedroom apartment (per
month), price of monthly transportation pass, price of a mid-range
bottle of wine, price of a loaf of bread (1 lb.), the price of a gallon
of milk and price for a 12 oz. cup of black coffee. All prices are in
U.S. dollars.

You use this information to run a
Multiple Linear Regression to predict Cost of living, along with
calculating various descriptive statistics. This is given in the Excel
output (that is, the MLR has already been calculated. Your task is to
interpret the data).

Based on this information,
in which city should you open a second office in? You must justify your
answer. If you want to recommend 2 or 3 different cities and rank them
based on the data and your findings, this is fine as well.

Deliverable Requirements:

This should be ¾ to 1 page, no more
than 1 single-spaced page in length, using 12-point Times New Roman
font. You do not need to do any calculations, but you do need to pick a
city to open a second location at and justify your answer based upon
the provided results of the Multiple Linear Regression.

The format of this assignment will
be an Executive Summary. Think of this assignment as the first page of a
much longer report, known as an Executive Summary, that essentially
summarizes your findings briefly and at a high level. This needs to be
written up neatly and professionally. This would be something you would
present at a board meeting in a corporate environment. If you are
unsure of an Executive Summary, this resource can help with an
overview. What is an Executive Summary?

Things to consider:

To help you make this decision here are some things to consider:

  • Based on the MLR output, what variable(s) is/are significant?
  • From the significant predictors, review the mean, median, min, max, Q1 and Q3 values?
    • It
      might be a good idea to compare these values to what the New York value
      is for that variable. Remember New York is the baseline as that is
      where headquarters are located.
  • Based on the descriptive statistics, for the significant predictors, what city has the best potential?
    • What city or cities fall are below the median?
    • What city or cities are in the upper 3rd quartile?

please refer to attached grading criteria pdf for exactly what to do on the assignment (1-5)

Prof. Angela

4.6/5

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