Question;NOVA SOUTHEASTERN UNIVERSITY;MBA Program;ECN 5050 - Economic Thinking;Data Exercise 3;This exercise is designed to;assess your ability to manipulate, analyze, and present data in accordance with;Course Competencies;#5: Locate and download;appropriate macroeconomic data;#6: Use Microsoft Excel to;manipulate and analyze data;#7: Graph macroeconomic data;effectively.;Instructions;?;Put all of your work in one file;?;Write your name in the header;? _We need to see your work in;Excel (i.e., formulas). Do not copy and paste numbers from;your original worksheet to a;new worksheet. When submitting, make sure that the cells;in your worksheet show;formulas.;? _After you finish the;assignment, name your fileLastnameDE1.xls(or.xlsx, depending on;the version of Excel). Note;that you do not have to write the.xlssuffix by yourself -;Excel will do it automatically;and;? _Upload it to the Data;Exercise Section of the Blackboard.;Background;You have learned that;price-quantity points normally represent equilibrium points because;transactions usually occur at equilibrium. You have also learned that;equilibrium points change in markets as a result of shifts in demand, or shifts;in supply or both. In particular, equilibrium points moving in a northeasterly;direction may reflect increasing demand, equilibrium points moving in a southwesterly;direction may reflect decreasing demand. Also, equilibrium points moving in a;southeasterly direction may reflect increasing supply, equilibrium points;moving in a northwesterly direction may reflect decreasing supply.;Assignment;This exercise asks you to;look at what happened to equilibrium points in the Broward County Real Estate;market during the period since 2004. This period covered the end of the Real;Estate Boom, the collapse induced by the Great Recession and the post-recession;Recovery. You are asked to identify the shifts that might have dominated in the;market during selected periods.;a. Most of the data on the number of sales and median;prices of used single family homes are given to you in the next file below the;Instructions. It is an Excel File entitled Data on Real Estate Sales in Broward;County 2004-14 Shell. It is a shell because you will have to fill in a number;of calculations that are started for you. You should download the file to your;computer.;b. Go to the website of the Greater Fort Lauderdale Realtors;http://www.r-world.com/ and click on the RESEARCH tab on the ORANGE line. Under;the Broward & Palm Beach County Heading, change the month in 2014 for;Broward County from January to March. Click on View. Open the pdf file that;downloads. Enter the figure for March 2014 Closed Sales into the appropriate;Sales cell in the Shell file. Enter the Median Sale Price for March 2014 into;the appropriate Median Price cell in the Shell File. Repeat for April 2014 and;so on. When no file opens, you have reached the limit of the data.;c. Select the 12-mo trend, the 24-mo trend and the Sales/24-mo trend for;August 2004 Sales. Drag the 3 formulas down until you get to the month that is;7 months earlier than the latest month for which you have data. (Aug 2013 if;Feb 2014 is the latest month). Next select the 12-mo trend, the 24-mo trend and;the Prices/24-mo trend for the August 2004 Median Price. Drag the 3 formulas;down until you get to the month that is 7 months earlier than the latest month;for which you have data.;d. The columns labeled Sales/24-mo trend and Prices/24-mo trend are;Seasonal Residuals which you will need to transfer to the second tab in the;worksheet labeled Derive Seasonal Factors. You will need to array the single;column of data Sales/24-mo trend into 12 columns of data, with one column for;each month. All the January Sales/24-mo trend figures go in the January column;all the February Sales/24-mo trend figures go in the February column and so on.;Do the same for the Prices/24-mo trend figures in the Prices Seasonal Residuals;table. The first 6 months of so of 2004 are blank because you have no data;some of the last months in 2013 and all of 2014 are also blank. (As time;progresses, all of 2013 will be filled in.);e. Calculate seasonal factors as centered three year averages down each;month column. 2006 is the earliest year that you will calculate the factors as;a centered moving average over 2005, 2006, 2007 values. 2011 is the latest year;that you will calculate the factors as a centered moving average over 2010;2011, 2012 values. Make the 2004, 2005 monthly seasonal factors the same as;2006, make the 2012, 2013, 2014 monthly seasonal factors the same as 2011.;Derive factors for median prices as well as sales.;f. Return to the Data Tab in the worksheet. The seasonal factors are;divided into the original monthly data for sales and for median prices to get;the seasonally adjusted values.;g. Do three charts for each series (sales and median;prices). The charts need to look professional. The charts are for 2004-07 (The;End of the Boom), 2008-09 (The Crash), and 2010-14 (The Recovery). What shifts;occurred in demand or supply in each period?
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