University of Illinois at Chicago Mean and Median Prices R Project

  1. Prepare a graph showing indices of mean and median (log) prices by quarter for the data in price.rda.
  2. Using the price.rda data set, regress lnprice on lnbldg, lnland, age, z, factor(quarter), and factor(ctract).
  3. Add distance to Lake Michigan, distance to the nearest EL station, and distance to State and Madison Street to the data set, and add them as explanatory variables to the regression in part 2. Discuss the results.
  4. Prepare graphs of the four price indices – means, medians, and the coefficients on the factor(quarter) variables from parts 2 and 3. The indices should all have a value of zero for 2000:1.
  5. Prepare a table with the estimated coefficients, standard errors, and the two R-square values.
  6. Discuss all of the results.

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