Cost of Living in Metropolitan Cities: Statistical Analysis using R Studio
Rishabh Kala1, Dhrubanka Dutta2,Vignesh Sasikumar3, Umamaheswari .S4, Bhuvaneswari R5
1Rishabh Kala, SCSE, VIT Chennai (Tamil Nadu), India.
2Dhrubanka Dutta, SCSE, VIT Chennai (Tamil Nadu), India.
3Vignesh Sasikumar, SELECT, VIT Chennai (Tamil Nadu), India.
4Umamaheswari.S, Assistant Professor, SAS Mathematics Division, VIT Chennai (Tamil Nadu), India.
5Bhuvaneswari R, Assistant Professor, SAS, Division of Social Sciences and Languages, VIT Chennai (Tamil Nadu), India.
Manuscript received on 01 May 2019 | Revised Manuscript received on 15 May 2019 | Manuscript published on 30 May 2019 | PP: 1220-1223
| Volume-8 Issue-7, May 2019 | Retrieval Number: G6358058719/19©BEIESP
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: Be it for the purpose of seeking better education, to make a living or just to live a busy life full of hustle and bustle, people find themselves travelling to huge metropolitan cities. With the numbers increasing with leaps and bounds, the cost of living is drastically affected. The resources are used extensively, but the process of mass production acts as a counter to this in some sectors. It is imperative to be aware of the necessities and their costs in these cities to plan a satisfactory life, without causing a ruckus and ending up broke. Keeping in mind, the necessity of living in these metropolitan cities, a statistical study is aimed to analyse the cost of living in these huge hubs, which would help the people to get a good idea of the financial challenges and aid them to plan their budget for comfort life. The study involves a survey inquiring about the cost of basic amenities required to live in metropolitan cities in India. The average expenditure of people is to determine the deviation across the country. Testing of hypothesis is applied to test the significant difference between average from our observations (which acted as sample) and average from the internet source (as population). The statistical study proves to be an efficient tool in identifying the most cost-efficient city, to sustain a satisfactory life at minimal expense and financial efficiency in various aspects. The result clearly indicates the significance of the data analytics which guides the individuals to plan their future living in these humungous cities. The report serves as an aid to the common masses to sustain a satisfactory lifestyle in the buzzing metropolitan cities, getting the most out of every penny.
Keyword: Cost, Data, Expenditure, Graph, Metropolitan
Scope of the Article: Structural Reliability Analysis.