economics paper
Do you need academic writing help with your homework? Let us write your papers.
Order a Similar Paper
Order a Different Paper
Save your time - order a paper!
Get your paper written from scratch within the tight deadline. Our service is a reliable solution to all your troubles. Place an order on any task and we will take care of it. You won’t have to worry about the quality and deadlines
Order Paper NowQNT275_r3_Fort_Myers_Sales_Data_Sheet_Week_2.xls
Case
Study 3.3 Due to a crisis in subprime lending, obtaining a mortgage has
become difficult even for people with solid credit. In a report by the
Associated Press (August 25, 2007), sales of existing homes fell for a
5th consecutive month, while home prices dropped for a record 12th month
in July 2007. Mayan Horowitz, a research analyst for QuantExperts,
wishes to study how the mortgage crunch has impacted the once-booming
market of Florida. He collects data on the sale prices (in $1,000s) of
25 single-family homes in Fort Myers, Florida, in January 2007 and
collects another sample in July 2007. For a valid comparison, he samples
only three-bedroom homes, each with 1,500 square feet or less of space
on a lot size of 10,000 square feet or less.
Calculate descriptive statistics: the mean, median, mode, and standard deviation in the two sample periods (January and July).
Discuss one of the following:
- What changes occurred in the Fort Myers housing market during the 6-month period?
- What conclusions can you draw from the data?
- What additional data might you want, to understand the housing market better?
- What role do descriptive statistics play in understanding the housing market?
