Project Description
This project applies linear regression models to the estimation of automobile prices. The dependent variable is the automobile prices. The independent variables are the variables to explain the price. These independent variables may include engine size, horse power, weight, width, and other characteristics. You need to collect at least forty data values for your regression.
Procedures
Step 1. Conduct a survey on the study of automobile prices. You can use the Web of Science, Academic Search Premier, JSTOR, and ScienceDirect online databases from libraries to search the articles on this study. The Web of Science is the best database for searching references. Most published articles are available on JSTOR or ScienceDirect.
Step 2. Set up a regression model by determining the independent variables to explain automobile prices. Based on your survey from the first step, you can decide the regression model. You must include at least two independent variables in the regression. Don't include too many Independent variables In the regression. if you have only 40 data values, don't use more than 10 independent variables.
Step 3. Collect at least forty data values of the dependent and the independent variables that you determined in Step 2. You collect the data of these variables for each type of automobiles. You need to collect the data for at least forty different types of automobiles. Your data must be cross-sectional (not different points in time).
Step 4. Write a preliminary report. In this report, you need to Include a title page and four sections: introduction, literature review, regression model and data, and references sections. After the references, you include an appendix with all related Excel printouts at the end. The title page includes the title of your study and date. The four sections are:
I. Section I introduction: State the objectives of the study and brief discussion of the importance of the study and related studies.
Section II literature Review: Summarize the previous researches on automobile prices.
- You need to include at least three scholar articles In your literature review section.
- Before you write your review section, yOu search articles that are related to your study. You pick several articles that you want to include in your review section. Then you write a summary of each article you read. In your summary of each article, you explain the variables used and the main results in this article. After you have the summaries from all articles that you read, you can start to write the literature review section. In this section, you explain what variables have been used to explain the automobile prices, how these independent variables are related to the automobile prices, and their results. When you discuss these independent variables, you can refer to the related articles.
- in your review section, DO NOT repeat the discussions or copy the sentences from the articles that you reviewed. Your review should not include short versions of original articles. you should use your own words to write your review.
Section III Model and Data: Write your regression model and explain how the Independent variables should be related to the dependent variable In your model. Include descriptive statistics and correlation of your data. When you discuss your data, you need to refer to these results. Do not include your regression results in this section.
- The selection of the independent variables should be based on your literature review. You need to explain how each Independent variable is related to the dependent variable. This relationship should be based on your literature review.
- The descriptive statistics and correlation must be organized with readable format in tables. Don't copy the Excel printouts and paste to Word.
- The summarized descriptive statistics and correlation tables should be included In Section 111. Don't refer to Excel printouts In the Excel file.
iv. References: The reference section includes your citations and data sources. The citation style should be based on either Chicago Style or AM (American Psychological Association). You should only include the references of the articles that you cited in the literature review Section.
v. Appendix: YOu can put all Excel printouts that support your results in the appendix of your Word file.
Your report must be typed, double-spaced and 12 point font. All mathematical symbols and equations must be typed with Equation Editor in Word. Each equation must be in a separate line.