Laboratory Exercise 2 Instructions

Instructions

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Laboratory Exercise - 2
Objective
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1)
2)
3)
4)
5)

This case study provides an opportunity to demonstrate our ability to combine data sets and
produce meaningful analysis. Specifically, we would like to provide a decision maker with more
than just data – we want to provide insights, understanding, and wisdom. This exercise allows
the student an opportunity to demonstrate progress (or mastery) of learning objectives 1, 2, 3,
4, and 5:
Obtain data and understand data structures and data elements.
Scrub data using scripting methods, to include debugging, for data manipulation in R and other
tools.
Explore data using essential qualitative analysis techniques including descriptive statistics.
Model relationships between data using the appropriate analytical methodologies matched to
the information and the needs of clients and users.
INterpret the data, model, analysis, and findings. Communicate the results in a meaningful way.

Instructions
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IST 718

The research question is can we predict which three zip codes provide the best investment
opportunity for the Syracuse Real Estate Investment Trust (SREIT)?
Using the base data available from Zillow
(files.zillowstatic.com/research/public/Zip/Zip_Zhvi_SingleFamilyResidence.csv)
o Review the data – clean as appropriate
o Provide an initial data analysis to include (but not limited to):
▪ Develop time series plots for the following Arkansas metro areas:
• Hot Springs, Little Rock, Fayetteville, Searcy
• Present all values from 1997 to present
• Average at the metro area level
Using data from Zillow:
o Develop model(s) for forecasting average median housing value by zip code for 2018
o Use the historical data from 1997 through 2017 as your training data
o Integrate data from other sources (think Bureau of Labor Statistics and Census data) to
improve upon your base model(s)
Answer the following questions:
o What technique/algorithm/decision process did you use to down sample? (BONUS FOR
NOT DOWN SAMPLING)
o What three zip codes provide the best investment opportunity for the SREIT?
o Why?
Bonus: Develop a geographic visualization that in your view best depicts the data and
recommendations:
o By state

Page 1 of 2

o

Median housing for Dec (state average)

Additional Instructions
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Don’t forget what you learned in your previous courses; do your own work, document any
assistance, use comments for clarity.
Use python to conduct your analysis and produce your graphics

Submission Items
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IST 718

Report with graphics
Supporting notebook for the report with final data set

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