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help! need project ideas!

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Sage Stevens

Thread Starter
Sophomore Member
Joined
Jun 15, 2005
Professional Status
Appraiser Trainee
State
Florida
Hey guys! So, I haven't been active in quite some time due to working crazy hours (only appraising here and there) and going to school for my MBA. Which leads me to my point of this post. I have to do a project for my "Making Decisions With Data" course (statistics basically). So, it's basically a project on regression analysis. I'm just driving myself crazy to think of some new and interesting ideas. I, unfortunately, don't have access to MLS anymore, though, county assessor pages are great now. So, I would like to stay within the residential market, and can include several cities. Maybe comparing a few different cities as an X-variable. I'm thinking that my Y will be sale price, or maybe assessed value? I'm just trying to get ideas. So, if anyone has something of interest, or something they have wanted to do research on but just haven't had the time, let me know! I'll send completed paper on request at the end of my semester!

Here's the guidelines:

GENERAL REQUIREMENTS:
1.[FONT=&quot] [/FONT]Choose a Y (outcome measure) that someone cares about (at your firm using real data, preferably).
It can be a good thing like profit, time spent on project (efficiency measure), or a bad thing like debt, losses or percent errors. THIS IS VERY IMPORTANT for developing a worthwhile project. If you can find a Y of interest, your whole project will be of interest.

2.[FONT=&quot] [/FONT]Once you choose a CONTINUOUS Y of interest, choose a policy oriented X. Your project’s implications revolve around file:///C:/Users/sage/AppData/Local/Temp/msohtmlclip1/01/clip_image002.gif (the relationship between X and Y). So if Y=sales and X= advertising the beta gives interesting information (i.e. is advertising effective?). If X=months then that is not as interesting … (i.e. each month sales increase by 10%...that’s nice but does not tell the manager how to improve sales). So choose an X that implies ACTION. Not all of your X’s have to imply that ACTION should or shouldn’t be taken, but at least one.

3.[FONT=&quot] [/FONT]Don’t use a Macroeconomic Y like Dow Jones or Unemployment in U.S. or Per Capita income. Someone else has already done studies much more in depth than you can, and no one is interested in these results. Choose a Y that YOU know about…like something from your work, hobbies, or home.

4.[FONT=&quot] [/FONT]The most common problem that students encounter designing their project is the Y variable they want to use is not continuous. You must have a continuous Y, not a series of 1 through 4, or yes/no for the LHS variable in order to use OLS regression. Y must be able to take on a multitude (infinite number) of values. Ex: You cannot use number of wins in a season. This takes on only values 1 to 12; that is not infinite. (Although, if you have a yes/no left hand side variable you can use Logit analysis).

5.[FONT=&quot] [/FONT]The next most common problem is that students don’t match the Y and X values. For example, Y is per store, or per day. YOUR X’s MUST ALSO BE per store or per day.

6.[FONT=&quot] [/FONT]You must include at least 4 separate X variables in the regression and more if you have them (note: this can not be one categorical variable with 5 dummy variable categories).

7.[FONT=&quot] [/FONT]You must have at least one categorical X variable (dummy variable). A variable such as marital status that has 2 categories still just counts as one X variable for the calculation of #6 above.

8.[FONT=&quot] [/FONT]The number of observations must be greater than or equal to 50.

9.[FONT=&quot] [/FONT]Working in groups is allowed: you may have at most 4 group members.

10.[FONT=&quot] [/FONT]Use a significance level of 10%.

11.[FONT=&quot] [/FONT]You must develop a good problem statement with good implications (i.e. have a policy variable X).

12.[FONT=&quot] [/FONT]Write 2 separate papers: One is longer with all aspects of the problem covered. (This is covered below with example included). The second one is much shorter and an article for publication or management summary. Unless it is a topic of very narrow interest only to YOUR COMPANY -- the problem should be targeted toward a general question of interest to the industry/broad audience. In general, I expect it to be of interest to the broad audience.

13.[FONT=&quot] [/FONT] There are a few projects that would be suitable for publication. Many projects are not suitable because the company won’t allow you to use their data, there is not a suitable industry journal, or the results are not suitable to make recommendations (p>alpha sometimes). After I read your project I will make a judgment as to whether we can work on it some more and send it to a journal for publication. If so, it is worth significant extra credit to do this extra work.
 

Ms. Janet

Elite Member
Gold Supporting Member
Joined
Oct 27, 2004
Professional Status
Certified Residential Appraiser
State
Florida
I say...

Send our resident marketing expert Tawfik a PM. Maybe he will let you work with his on-going data collection.

Good Luck Sage!!!
 
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