In this assignment, you are provided with data from a research paper by Ella Hartenian and Nicholas Horton, who examined whether or not there was a relationship between rail trails and property values in Northampton, MA. The data are located in the file 'house prices.xlsx' which is in your e-mail on D2L. Please see the accompanying word document, 'documentation.docx,' which describes what each of the columns in the data set mean and how they are scaled.

1. copy of the data set by right-clicking the tab at the bottom and clicking 'Move or Copy...', then copyanother copy of the data set in the same workbook. Label this copy "Regression 1" and the original tab "Original Data." Now click on the tab for "Regression 1." Delete all variables except 'price2014,' 'bedrooms,' 'garage space', 'nofullbath', 'norooms', 'squarefeet,' and 'walkscore.' You should have seven total variables. Make sure 'price 2014' is the far left variable, then estimate the model where 'price2014' is a function of the other six variables. Then answer the questions:

(a) For each variable, explain what the sign of the regression coefficient is, what the magnitude is (i.e., if x goes up by one unit how much does y increase by), and whether or not the results of your regression are consistent with what you believed the sign and magnitude to be. Then explain if any variables are insignificant.

Use p < 0.1 as the p-value cutoff for whether results are significant.

(b) Write down the equation of your regression line, including all variables. Next, calculate the average value for each of your six explanatory variables using the AVERAGE() function in Excel. Finally, make a prediction for the price if each of the variables take their average value.

(c) Explain briefly if there are any variables in the data set you think should have been included and, if so, why.You must refer to at least one other variable.

IMPORTANT: TYPE the ANSWERS IN A TEXT BOX ("INSERT" A TEXT BOX).MAKE SURE TO ADDRESS EACH QUESTION (a, b, and c)

LO2.3

In this assignment you are provided with data from a research paper by Ella Hartenian and Nicholas Horton, who examined whether or not there was a relationship between rail trails and property values in Northamp- ton, MA. The data are located in the file 'house prices.xlsx' (same data used above) which is in your e-mail on D2L. Please see the accompanying word document, 'documentation.docx,' which describes what each of the columns in the data set mean and how they are scaled. assess whether rail trails influence property values.

1. new tab with copy of the same data set used for "LO2.2" by right-clicking the tab at the bottom and clicking 'Move or Copy...', then new tab withanother copy of the data set in the same workbook. Label this copy "Regression 2" and the original tab "Original Data." Now click on the tab for "Regression 2." Then answer the question:

(a) Estimate the model where house prices ("price2014" variable) are affected by rail distance only. What is the sign and magnitude of the coefficient on rail distance, and what is the fit of the regression?

(b) new tab with another copy of the "original data" following the same steps used before and label this new tab "Regression 3."Estimate a new model where house prices are affected by both rail distance and previous prices ("price1998") only.What is the sign and new magnitude of the coefficient on rail distance, and what is the fit of the regression?

(c) new tab with another copy of the "original data" following the same steps used before and label this new tab "Regression 4."Estimate a new model where house prices are affected by both rail distance and previous prices, as well as any other variable you consider relevant (select at least one more variable and explain briefly why). What is the sign and magnitude of the coefficient on rail distance, and what is the fit of the regression?

(d) paragraph that answers whether rail trails affect housing prices based on your three models.

IMPORTANT: SHOW ALL YOUR NUMERIAL ANSWERS IN THE EXCEL SHEETS AND TYPE theANSWERS IN A TEXT BOX ("INSERT" A TEXT BOX).MAKE SURE TO ADDRESS EACH QUESTION (a, b, c, and d).

Variable Descriptions:

housenum:unique house number

acre: number of acres that the property encompasses

acregroup:less than or equal to 1/4 acre or greater than 1/4 acre

adj1998: estimated 1998 price in thousands of 2014 dollars

adj2007: estimated 2007 price in thousands of 2014 dollars

adj2011: estimated 2011 price in thousands of 2014 dollars

bedgroup:1-2, 3, 4+ bedrooms

bedrooms:number of bedrooms

bikescore: bike friendliness (0-100 score, higher scores are better)

diff2014:difference in price between 2014 estimate and adjusted 1998 estimate (in thousands of dollars).

distance:distance (in feet) to the nearest entry point to the rail trail network

distgroup:distance is "Closer" (less than or equal to half mile) or "Farther Away" (greater than half a mile).

garage_spaces: number of garage spaces (0-4)

garagegroup:any garage spaces (yes/no)

latitude:

longitude:

no_full_baths: number of full baths (includes shower or bathtub)

no_half_baths: number of half paths (no shower or bathtub)

no_rooms:number of rooms

pctchange: percentage change from adjusted 1998 price to 2014 (value of zero means no change)

price1998:Zillow 10 year estimate from 2008 (in thousands of dollars)

price2007:Zillow price estimate from 2007 (in thousands of dollars)

price2011:Zillow price estimate from 2011 (in thousands of dollars)

price2014:Zillow price estimate from 2014 (in thousands of dollars)

sfgroup:squarefeet less than or equal to 1500 or greater than 1500 sf

squarefeet:square footage of interior finished space (in thousands of sf)

streetname:name of street

streetno: house number on street

walkscore: walk friendliness (0-100 score, higher scores are better)

zip: location (1060 = Northampton: 1062 = Florence)