Applied Quantitative Methods for Determining the Value of a Home

For the final paper, you are to build an econometric model to test a hypothesis regarding different characteristics that can determine the value of a house.

For this paper you are to perform a regression analysis. The data file provided in the Week 5 Assignments folder consists of variables that can influence the value of home.

In the Week 5 discussion, you have been working as a team to build an econometric model to test the realtor’s claim that location is the most important factor when it comes to determining the value of a home. Your model included variables that estimated the value of a home by a home’s characteristics and a neighborhood’s characteristics. You now have regression results and need to provide an interpretation of the overall fit of the model and the statistical significance and magnitude of each variable that you included in the model. There is no one correctly specified model that you will be evaluated on, but you should be able to justify why variables are included in your model and the overall fit of the econometric model to the simple theory put forth by the real estate market.

You will also be provided with an example of a paper of mine that is currently forthcoming with the journal International Migration. Use the excerpts provided of this paper to assist you in writing up your interpretation of your econometric model. This consists of following six parts.

  1. An introduction to the research and your findings. (one page)
  2. A brief theoretical description of your model. This is typically the literature review of a paper. (two paragraphs, one for home characteristics and one for neighborhood characteristics)
  3. A data and methods section in which you present the descriptive statistics of the data, variables used in your regression model, and the quantitative method of analysis. This should include a table that includes the means and standard deviations of each variable used in the model. (three pages excluding the table)
  4. A results section in which you present a descriptive analysis of your model’s parameter estimates. This should also be accompanied with a Table that includes the regression coefficient estimates, the standard errors of the estimates, and some indication of the level of statistical significance of the variables used to test your hypothesis. (three pages excluding the table)
  5. A discussion of the relevance of these results in relation to the theory that you presented in section two. (one page)
  6. A conclusion that restates the major findings, any limitations of the econometric model, and suggestions for future research. (one page)

This paper should consist of between eight to ten double spaced pages. No research or bibliography is needed for the literature review or theory section. However, the paper should be submitted in compliance with APA standards.

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