Project Name: Housing
Team number 1
413/15 Arjun A V
401/15 Abhay Kesharwani
416/15 Atul Kumar
426/15 Joy Bhagat
Problem Statement: Housing rates in suburban Houston
Data Source:
Origin:
This dataset was taken from the StatLib library which is maintained at Carnegie Mellon University.
Creator:
Harrison, D. and Rubinfeld, D.L.
'Hedonic prices and the demand for clean air', J. Environ. Economics & Management, vol.5, 81-102, 1978.
Benefits/utility : The major benefit would be to determine the various factors and study their impact on prices of house. This can give a good example of what people look for wen buying/renting a house. Also the fact that the data set has hedonistic measures apart from social measures allows us to look the problem from a behavioral point of view. Also the given dataset and the parameters can be used as a base model for other geographic locations.
Expected Outcomes :We believe using the given data set on stastica we can make a model to determine the house prices and by this we can study the real estate market depending on market prices. Also similar data sets for different locations can give us location specific models. Although the given data-set is old but considering the current real estate market post Sub prime the model can give fair valuation for the housing prices.
Subscribe to:
Post Comments (Atom)
1 comment:
I too agree that...
The major benefit would
be to determine the various
factors and study their impact
on prices of house. This can
give a good example of what
people look for wen
buying/renting a house.
Also the fact that the data
set has hedonistic measures
apart from social measures
allows us to look the problem
from a behavioral point of view.
You deserve appreciations again for giving out!
digital marketing
Post a Comment