I’ve worked out the problems for Quiz 11 and scanned to PDF. You can download the PDF here: BUSAD265_Quiz11
Sorry it’s a bit messy (my kids take my good pencils so I’m stuck using a pen) but hopefully you can follow along. I will step through both problems during class today (11/14).
For Exam #3 you need to be prepared to answer questions on the following topics.
Ch. 4 Probability
Ch. 6.2 Normal Distribution
Ch. 8 Statistical Inference
Ch. 9 Hypothesis Testing
Like previous exams I will provide any necessary equations and/or look up tables (no need to memorize). But, you should be able to identify terms and what they represent.
Due Thursday, December 5th.
The Term Project will be an extension of the work you’ve done with the Pueblo Property Data in previous exercises. Here’s what you need to do to complete the project.
1. Produce an appropriate set of graphics and descriptive statistics for your updated neighborhood data. You must use your 30 property records but you can use the other records from your neighborhood as well if you’d like (using more records will probably improve your model accuracy).
2. Build a regression model to estimate Total Value based on one or more independent variables (e.g., Total Finished Square Feet, Number of Bathrooms, etc.). If the best model is bivariate (only one independent variable) that’s fine but be sure to experiment with multiple independent variables and justify your decision regarding what variables are included and excluded. Report the appropriate statistics used to assess how well your model fits the data.
3. Use your model to estimate the value of 5 sample properties. The variables used will depend on Step #2 and the range of values selected is up to you. Just be realistic (e.g., don’t attempt to estimate the value of a 20,000 sq ft home or a home with 16 bathrooms).
4. Use probability theory and statistical inference to determine the accuracy of your 5 sample property estimates. In other words, produce confidence intervals for your estimates.
5. Conduct a Hypothesis Test on your property data. You are responsible for determining the hypothesis you wish to test, setting up the appropriate test, calculating the necessary statistics and interpreting the results.
6. Produce a PowerPoint file to present all steps above. Include slides that summarize your results and conclusions. Your target audience is a typical real estate investor interested in buying single family homes in your assigned neighborhood. What advice would you give the investor? The Power Point slides should be clear, neat and professional looking. Imagine you’re high paid consultant and you want the investor to pay you for more work and provide good references to other potential clients.
The third exam will be Thursday, November 21st.
The exam will cover material from Reading Assignments #12-17 in Ch. 4, 6, 8 and 9.
You are only responsible for the material covered in each chapter, not for the entire chapter.
There will be a review on Tuesday, November 19th. Come to class prepared to ask questions.
Due Thursday, Nov 14
Ch. 9, p. 305-312 (Section 9.2) and p. 314-319 (Section 9.3)
Determining Which Inferential Technique to Use, Part II: Hypothesis Tests
Type I and Type II Errors
Hypothesis Testing Using the z Statistic
Due Tuesday, Nov 19
Here are some demonstration problems that should help you with the Exercise:
Due Thursday, November 7th
Please complete the following even numbered problems in Sections 8.1 and 8.2
Here are some examples to help you with this assignment (click on any image to enlarge). Be prepared to do similar problems in class on Thursday.
8.13 and 8.15
Hope this helps!