Exam #2
The second exam will be Thursday, October 17th.
The exam will cover material from Reading Assignments #7-11 in Ch. 7, 12 and 13.
You are only responsible for the material covered in each chapter, not for the entire chapter.
Category: busad265
Due Tue, Oct 15
Build 2 multiple regression models
Model 1. Analyzing the Database Problem #4 on page 549. You will need the Excel data that we’ve used previously for database exercises: black_7e_excel_database
Model 2. Build a multiple regression model with your set of Pueblo Property Data. See instructions below for Model 2.
Turn in the following (printed) in class on Tuesday:
Due Tue, Oct 15
I announced a couple weeks ago that Lauren Shand would be offering tutoring services on Thursdays from 5pm to 6:30pm in HSB 113.
The location has changed to HSB 122.
According to Lauren, only one person showed up last week so this is a great opportunity to get personal assistance with any of the concepts we’ve covered that may not be clear to you.
Due Thu, Oct 10
Step 1.
Using the same set of data from Exercise #7 (i.e., 30+ property records), calculate the following. Use standard Excel functionality as you did in Exercise 6 and 7:
Step 2.
Use the “Data Analysis” ToolPak in Excel to run a regression analysis. You will be prompted to enter your y values (dependent variable) and your x values (independent variable). If you select these two columns correctly and run the regression it will produce a new worksheet with regression output. Check to see if your Coefficient of Determination from Step 1 matches the r-squared value reported in the regression output. It should be very close but perhaps not exactly the same due to rounding error. If the two values are far apart it would likely indicate an error along the way. In that case, go back and check your calculations.
Step 3.
Provide 4 value estimates for an average home in your assigned neighborhood using various sizes (in square feet) including:
If you did not use square footage then simply generate estimated values over a range of numbers relevant for you independent variable. For example, if you used total number of rooms then use 4, 5, 6, 7 rooms or something similar representing the range of likely numbers.
Step 4.
Write a 1-page analysis explaining what you’ve done since the beginning of the Pueblo Real Estate project. Write a report that you might submit to a group of local real estate professionals. Use your own words to write a business memo that answers the following questions:
Step 5.
Video Help:
I’m intentionally not providing a step-by-step video guide to this exercise. I want you to think about these calculations and not just copy what I do. Instead please use these two video resources that explain how to calculate the Standard Error of the Estimate and the Coefficient of Determination (or r-squared). With these videos, the textbook and the previous exercises and accompanying videos you should have what you need to complete the assignment. If you are confused after reviewing all these materials, simply do the best you can – I will grade based on effort more than numerical accuracy.
Standard Error of the Estimate Video:
It wouldn’t hurt to watch all of the videos, including these two, associated with the Linear Regression playlist on the same YouTube channel.
Due Thu, Oct 3
This exercise will be similar to Exercise #6 but instead of using the “Data Analysis” TookPak add-in we will calculate the statistics using basic Excel functionality. Here’s what you need to do, step by step:
Step 1. Download the Excel worksheet that I presented in class on Tuesday: CalcPearsonRegression
Step 2. In place of the 5 rows of data (x and y), you will need to insert your 30 property records (insert 60 or 90 if you have them and want to use a larger data set). Specifically, you want to insert Total Property Values as the dependent (y) variable and Total Finished Sq Ft as the independent (x) variable.
Step 3. Use the formulas I created, or create your own formulas, to calculate the Pearson Correlation Coefficient, the Slope of the Regression Line and the Y-Intercept.
Step 4. Format a single page, print the page and turn in during class on Thursday.
Here’s a YouTube video (this is the newer version with higher resolution for better viewing) that takes you through the exercise step by step: http://youtu.be/Jg4Fr4FITmo
Due Thu, Oct 3
Ch 12, p. 483-495
Several pages are devoted to problem sets. Focus on the pages listed below by topic.
Key Topics:
Independent | Dependent |
X | Y |
1 | 2 |
2 | 4 |
3 | 5 |
4 | 4 |
5 | 5 |
We will use these data in class to practice some calculations.
This Excel file may be useful: CalcPearsonRegression
I’ve heard from several students that they are having trouble pulling together all of the data to complete the exercise, either because of problems with the Google Drive shared spreadsheet or because not all students have yet uploaded their data. Please feel free to use only your 30 property records. If you already have 60 or 90 that’s better – use as much data as you can – but don’t spend loads of time trying to track the additional property records if you’re having a lot of trouble. We will spend time in class tomorrow getting the data better organized.
If you have not done so already, please email your property records (in Excel format) to our Graduate Assistant, Becky at [email protected]
This is an important lesson – getting clean, useful data is often a painful process. I’m reminded of this on a regular basis in my consulting work. Thanks for your patience!