The document appears to be a list of real estate properties including the price per square foot, number of bedrooms, number of bathrooms, age of the property, whether it has a pool, and other details. It contains over 100 listings of various homes summarized on a row-by-row basis including key details like price, square footage, number of beds and baths.
36. (0) The front page of the project should contain
(a) The title of the study
(b) Your name(s)
(c) Econ 261
(d) Fall 2018
(e) An abstract*
(f) Thanks those who help you
(*) The abstract should be single spaced and not exceeding five
lines; it should focus on (a) the purpose of the study and (b) the
main findings of the study.
I. Introduction
Section 1 of the study should be the Introduction which describe
the purpose of the study, motivation in selecting the topic and
the conclusion that announces the organization of the rest of the
paper.
II. Descriptive Statistics
Section 2 should analyze the descriptive statistics of the
variables used and interpret your findings. It is in three parts (a)
create a table of descriptive statistics, (b) Construct a matrix of
correlation coefficients and (c) construct scatter plots of
selected variables and interpret your findings.
III. Comparing Values and characteristics of homes foreclosed
and not foreclosed
Describe and contrast characteristics and values of homes in Las
Vegas Metropolitan Area. Use the provided descriptive table 3
to report the summary statistics (mean) and interpret your
findings.
V.
Conclusion
37. The conclusion should emphasize: The purpose of the study, key
findings of the study, and extensions for future research.
Term project
Determinants of Residential Property values in the Las Vegas
Metropolitan Area (Use the data File: Housing)
The Greater Las Vegas Association of Realtors® (GLVAR) is
interested in analyzing the determinants of residential property
values in the Las Vegas Metropolitan Area housing market. The
data set is based on the 2015 residential properties of the Las
Vegas Metropolitan Area. Residential property values (PRICE)
are explained by a number of factors. The relationship between
price and these factors is written as:
PRICE =f(SQFT, BED, BATH, AGE, POOL, FORECLOS)
PRICE
= Sale price of residential property
SQFT
= Square feet, measuring the size of living space
BED
= Number of bedrooms
BATH
= Number of bathrooms
AGE
38. = Year of the residential property
POOL
= 1 if the property has a pool or a spa and 0 if not.
FORECLOS = 1 if property is a foreclosed property and 0 if
not
Part I: Characteristics of residential properties
1. Construct a table that includes the summary statistics (mean,
standard deviation, minimum and maximum) of all the
variables. Explain briefly your findings.
2. Compute the matrix of correlation coefficients for the
variables PRICE, SQFT, BED, BATH, AGE, POOL, and
FORECLOS. Analyze the direction and strength of the
relationship of the right-hand side variables (SQFT, BED,
BATH, AGE, POOL, and FORECLOS) on PRICE. Explain your
findings.
3. Show the scatter plots of the relationships between (i) PRICE
and SQFT, (ii) PRICE and BED, (iii) PRICE and BATH, and
(iii) PRICE and AGE (Use PRICE as the variable on the vertical
axis in each plot). Explain your findings. Are the results of the
plots consistent with the correlation results in (2)? Explain.
Part II: Comparing characteristics of foreclosed and non-
foreclosed home
Is there a difference in values between foreclosed and non-
foreclosed residential properties? Compute the average
difference in values of the two types of properties. Explain your
findings. Are your findings consistent with intuition? Explain.
Table: Descriptive Statistics (Average Values)
Variables
Foreclosed
Non-foreclosedtc "Variables
39. Definition
Units
Source " l 5DifferencePRICESQFT
BED
BATH
AGE
POOL
Part III: Policy recommendation
The Greater Las Vegas Association of Realtors® (GLVAR)
likes your study and requests that you draft a useful policy for
the Association with regard to housing market condition in Las
Vegas. Your recommendation should be based essentially on the
data and results of this project.