timer Asked: May 6th, 2020

Question Description

The project will have two parts: (1) estimating a repeat sales price index and (2) some maps that are similar to ones from previous projects.

The data set for the project is repdata.rda, which is available now. After downloading the file into the folder you have been using regularly for the class and using the appropriate setwd command, you should be able to load the file with the command load(“repdata.rda”). It can then be referred to simply as repdata. The data set includes the subset of properties in the price.rda data set that sold at least twice during 2000 – 2018. The data set has already been trimmed of outliers. Each observation in the data set is a single property. The main ways that the data set differs from price.rda are (1) the sample is limited to homes that sold at least twice, and (2) each observation includes two sales prices and times – one for the first sale in a pair and one for the second sale.

The variables you will need for the analysis are the following:

lnprice0 = the log of the sale price for the first sale in a repeat sales pair.

lnprice1 = the log of the sale price for the second sale in a repeat sales pair.

year0 = year of sale for the first sale in a repeat sales pair.

year1 = the year of sale for the second sale in a repeat sales pair.

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