Reyem Affair-Case Report
CASE REPORT
Reyem Affiar
PGP 2011-2013
Section D
Term 2
By: Debdutta Choudhury- 1111252 Moushumi Daimari- 1111271 S. Vishwas- 1111291 V.Balakrishnan - 1111311
Executive Summary Description of 236 Ellery Street Condominium
Rooms | Five(two bedroom, one bath) | Location | Mid-Cambridge | Interior Space | 1040 square feet of interior space | Monthly Condominium Fee | $175 | Annual Property Taxes | $1,121 | Price | $169,000 | Put on market | April 11,1994 | Rent Control Status | In the event that owner wishes to let condominium, restrictions apply on monthly rent owner may charge |
In order to obtain the optimum price that Reyem Affiar should pay for the two-bedroom condominium at 236 Ellery Street a regression model was required. A total of 456 data points( of the past 5 years) and 17 variables were provided , namely-Street Address, Unit, Area, Area Code, First Price, Last Price, Sale Price, First Date, Close Date, Days, Interior, Bed (rooms), Bath (rooms), Rooms, Condo, Tax and RC. A regression model analysis was carried out using SPSS with Sale Price as the dependant variable and the rest as independent variables.
Significant Variables:
Removing redundant variables ie. Area & Area Code, an initial regression sans outliers showed First Price (sig=0.000), Last Price (sig=0.000), Days (sig=0.000), Tax (sig=0.000) and RC (sig=0.236) to be the relevant variables (significance level <= 0.025) with an R^2 value of 0.955 and an Adjusted R^2 value of 0.954.
Outliers:
On analyzing regression coefficients and trend lines for individual variables in scatter plots, three clear outliers were identified and removed-75 Cambridge Pky( Sale Price-875,000), 205 Richdale Ave ( Sale Price-124,000). Further analysis using Mahalanobis distance, Cook’s distance and Leverage values removed 19 more data points. Required
Reyem Affiar
PGP 2011-2013
Section D
Term 2
By: Debdutta Choudhury- 1111252 Moushumi Daimari- 1111271 S. Vishwas- 1111291 V.Balakrishnan - 1111311
Executive Summary Description of 236 Ellery Street Condominium
Rooms | Five(two bedroom, one bath) | Location | Mid-Cambridge | Interior Space | 1040 square feet of interior space | Monthly Condominium Fee | $175 | Annual Property Taxes | $1,121 | Price | $169,000 | Put on market | April 11,1994 | Rent Control Status | In the event that owner wishes to let condominium, restrictions apply on monthly rent owner may charge |
In order to obtain the optimum price that Reyem Affiar should pay for the two-bedroom condominium at 236 Ellery Street a regression model was required. A total of 456 data points( of the past 5 years) and 17 variables were provided , namely-Street Address, Unit, Area, Area Code, First Price, Last Price, Sale Price, First Date, Close Date, Days, Interior, Bed (rooms), Bath (rooms), Rooms, Condo, Tax and RC. A regression model analysis was carried out using SPSS with Sale Price as the dependant variable and the rest as independent variables.
Significant Variables:
Removing redundant variables ie. Area & Area Code, an initial regression sans outliers showed First Price (sig=0.000), Last Price (sig=0.000), Days (sig=0.000), Tax (sig=0.000) and RC (sig=0.236) to be the relevant variables (significance level <= 0.025) with an R^2 value of 0.955 and an Adjusted R^2 value of 0.954.
Outliers:
On analyzing regression coefficients and trend lines for individual variables in scatter plots, three clear outliers were identified and removed-75 Cambridge Pky( Sale Price-875,000), 205 Richdale Ave ( Sale Price-124,000). Further analysis using Mahalanobis distance, Cook’s distance and Leverage values removed 19 more data points. Required