a. (6 points) Prepare a table of summary statistics for all available variables listed. Include mean, standard, deviation, minimum, and maximum. One thing to note is that the district variable is redundant so do not have a numerical value for that variable, you will only be able to include the percentage makeup of the apartments represented in each district as shown below. As those districts are simply describing the location, do not include std deviation, min; or max for those. Check the example tables for a reference on the recommended appearance. Paste that table below. b. (4 points) Create a second table with average rent by district. For each district, have columns containing mean, std deviation, min, and max. Your table will be evaluated based on correct content and style. Give it a title, make sure it has consistent decimals, make it look professional. Paste that table below. Hint: You can manually do this or a pivot table will do this more easily but you'll have to learn how to use itl Choose the two columns District and rent and go to the insert - Pivot table. c. (4 points) Create 'a third table with average living space (in square meters) by district. For each district, have columns containing mean, std deviation, min, and max. Your table will be evaluated based on correct content and style. Give it a title, make sure it has consistent decimals, make it look professional. Paste that table below. Hint: You can manually do this or a pivot table will do this more easily but you'll have to learn how to use it! Choose the two columns District and living space and go to the Insert - Pivot table (the columns must be side to side when you do it). d. (4 points) Create separate two bar graphs showing average rent and average living space by neighborhood. Give the tables a title, make them look professional, show the data values above each bar. Paste those graphs below. e. (5 points) Write at least 4-5 sentences about the dataset based on what you have found out from the tables and graphs. What do you see? Which district has the highest/lowest rent? The largest/smallest apartments? Incorporate information on the neighborhoods in Des Moines (search online for information here, I permit it), does the information you see match the descriptions of those neighborhoods online? f. (6 points) What do you anticipate to be the relationships in the data between the independent variables and the dependent variables? In the next step you will be asked to estimate how rent changes A B C D G 1 ECON 301 Managerial Economics Exam 1 2 Example Summary Statistics \begin{tabular}{|c|l|c|c|c|c|c|} \hline 3 & Variable & Description & Mean & Std Dev & Min & Max \\ \hline 4 & Motel Occupancy Rate & % monthly rate & 0.56 & 0.02 & 0.53 & 0.60 \\ \hline 5 & Room price & in US \$'s & 76.00 & 4.65 & 67.45 & 83.90 \\ \hline 6 & Competitor price & in US \$'s & 75.64 & 14.44 & 39.20 & 83.90 \\ 7 & Income & in 000s of US \$'s & 62.74 & 11.10 & 42.90 & 83.90 \\ \hline 8 & District & % of sample & & & & \\ \hline 9 & Sherman Hill & & 10% & & & \\ \hline 10 & Downtown & & 80% & & & \\ \hline 11 & East Village & & 10% & & & \\ \hline 12 & & & & & \\ \hline 13 & & & & & \\ \hline \end{tabular} ECON 301 Managerial Economics Exam 1 Example Linear Regression Results 15 Dependent Variable: Motel Occupancy Rate (\%) \begin{tabular}{|l|l|c|c|c||c||} \hline 16 & & Coefficient & Standard Error & t stat & p-value \\ \hline 17 & Intercept & 50.174 & 7.847 & 6.394 & 0.000 \\ \hline 18 & Room price & 0.144 & 0.117 & 1.235 & 0.230 \\ \hline 19 & Competitor price & 0.083 & 0.041 & 2.007 & 0.058 \\ \hline 20 & Income & 0.026 & 0.064 & 0.404 & 0.690 \\ \hline 21 & & & & 1. & \\ \hline 22 & & & & \end{tabular} a. (6 points) Prepare a table of summary statistics for all available variables listed. Include mean, standard, deviation, minimum, and maximum. One thing to note is that the district variable is redundant so do not have a numerical value for that variable, you will only be able to include the percentage makeup of the apartments represented in each district as shown below. As those districts are simply describing the location, do not include std deviation, min; or max for those. Check the example tables for a reference on the recommended appearance. Paste that table below. b. (4 points) Create a second table with average rent by district. For each district, have columns containing mean, std deviation, min, and max. Your table will be evaluated based on correct content and style. Give it a title, make sure it has consistent decimals, make it look professional. Paste that table below. Hint: You can manually do this or a pivot table will do this more easily but you'll have to learn how to use itl Choose the two columns District and rent and go to the insert - Pivot table. c. (4 points) Create 'a third table with average living space (in square meters) by district. For each district, have columns containing mean, std deviation, min, and max. Your table will be evaluated based on correct content and style. Give it a title, make sure it has consistent decimals, make it look professional. Paste that table below. Hint: You can manually do this or a pivot table will do this more easily but you'll have to learn how to use it! Choose the two columns District and living space and go to the Insert - Pivot table (the columns must be side to side when you do it). d. (4 points) Create separate two bar graphs showing average rent and average living space by neighborhood. Give the tables a title, make them look professional, show the data values above each bar. Paste those graphs below. e. (5 points) Write at least 4-5 sentences about the dataset based on what you have found out from the tables and graphs. What do you see? Which district has the highest/lowest rent? The largest/smallest apartments? Incorporate information on the neighborhoods in Des Moines (search online for information here, I permit it), does the information you see match the descriptions of those neighborhoods online? f. (6 points) What do you anticipate to be the relationships in the data between the independent variables and the dependent variables? In the next step you will be asked to estimate how rent changes A B C D G 1 ECON 301 Managerial Economics Exam 1 2 Example Summary Statistics \begin{tabular}{|c|l|c|c|c|c|c|} \hline 3 & Variable & Description & Mean & Std Dev & Min & Max \\ \hline 4 & Motel Occupancy Rate & % monthly rate & 0.56 & 0.02 & 0.53 & 0.60 \\ \hline 5 & Room price & in US \$'s & 76.00 & 4.65 & 67.45 & 83.90 \\ \hline 6 & Competitor price & in US \$'s & 75.64 & 14.44 & 39.20 & 83.90 \\ 7 & Income & in 000s of US \$'s & 62.74 & 11.10 & 42.90 & 83.90 \\ \hline 8 & District & % of sample & & & & \\ \hline 9 & Sherman Hill & & 10% & & & \\ \hline 10 & Downtown & & 80% & & & \\ \hline 11 & East Village & & 10% & & & \\ \hline 12 & & & & & \\ \hline 13 & & & & & \\ \hline \end{tabular} ECON 301 Managerial Economics Exam 1 Example Linear Regression Results 15 Dependent Variable: Motel Occupancy Rate (\%) \begin{tabular}{|l|l|c|c|c||c||} \hline 16 & & Coefficient & Standard Error & t stat & p-value \\ \hline 17 & Intercept & 50.174 & 7.847 & 6.394 & 0.000 \\ \hline 18 & Room price & 0.144 & 0.117 & 1.235 & 0.230 \\ \hline 19 & Competitor price & 0.083 & 0.041 & 2.007 & 0.058 \\ \hline 20 & Income & 0.026 & 0.064 & 0.404 & 0.690 \\ \hline 21 & & & & 1. & \\ \hline 22 & & & & \end{tabular}