Identify the three most expensive ushabtis in the dataset

Assignment Help Applied Statistics

Reference no: EM132257107

Stata Assignment -

In this Stata assignment there are 7 questions to be answered based on a set of data which attached? You may have to make tables to present the answer clearer.

You will be working on an original dataset collected for my project on the art market. It documents the prices paid at high profile auctions for ushabti (shabti, shawabti) figurines from ancient Egyptian tombs. We will be modelling hammer prices (in GB£) for these figurines depending on their characteristics, as well as market conditions.

Q1: Identify the three most expensive ushabtis in the dataset and describe their attributes. Are they statistical outliers? Do you think there may have been a mistake in recording the entries? If so, suggest a suitable remedy for dealing with these entries.

Q2: Display the distribution of "hammerpriceinpounds" and its (natural) logarithmic transformation in histograms. Explain whether you would use the raw data or the logarithmic transformation for OLS regression analysis.

Q3: There are 5 different categories of material. Create a single graph with boxplots comparing lnhammerprice for wooden, stone, and faience ushabtis.

Q4: Display the relationship between "lnhammerprice" and your "lowdate" in a scatterplot. Does the plot suggest a significant correlation between the variables? Describe the relationship in appropriate statistical language.

Q5: We have data from three auction houses: Sotheby's, Christies, and Bonhams and two locations (London and New York). Use (appropriate) t-tests to explore the following hypotheses. Give a detailed explanation of your method and findings.

a) Christies sells more expensive ushabtis than Sotheby's on average.

b) Higher priced ushabtis are traded in London.

Q6: Use bivariate OLS regressions to explore the correlation between the following characteristics and lnhammerprice paid. Report all your findings in a single table. In each case carefully explain your findings and highlight the statistical significance in the table using the *-system (with a legend).

a) lowdate

b) sizeincm

c) Year (i.e. is there a linear time trend in sales prices)

d) Whether an object has been "published" (i.e. is considered of scholarly importance)

Q7: Use multivariate OLS regression analysis to explore the effect of material on the hammer price. In your model use "lowdate" and "Size", and "Year" as control variables and test whether wooden, metal, stone, and faience objects command a price premium (compared to composition / terracotta / other).

a) Display your results in a table with all important information included and statistical significance highlighted.

b) Explain your results in plain English.

Attachment:- Assignment Files.rar

Reference no: EM132257107

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Reviews

len2257107

3/14/2019 9:45:49 PM

Instructions: You can see the instructions in the attached file. In this Stata assignment there are 7 questions to be answered based on a set of data which I have attached You will need to analyze the data on Stata based on what the question is asking. You may have to make tables to present the answer clearer if the question is asking.

len2257107

3/14/2019 9:45:44 PM

Detailed instructions - Please do not try to obtain support from course instructors for this assignment. You may help each other, but please do not hand in “group-work” answers. If a question appears unclear, do the best you can to answer it. Explain what you have done and how you came to your answer. There may be multiple “good” answers. Submit the answers to the questions in the right order with the question number clearly marked. You will be marked both on content and on presentation. Graphs need titles and axis labels, tables should contain all relevant and no redundant information. Make them user-friendly.

len2257107

3/14/2019 9:45:39 PM

In your explanations, use precise language and ensure that what you write can be understood by a non-specialist. You will have marks deducted for copy/pasting raw Stata output for regressions. Put your regression models into tables. The word limit is 1000 words (excluding graphs and tables. You don’t need to copy the questions.) Producing the correct tables will result in a high turnitin score: not to worry. But your text should not be the same as your that of your fellow students! Think of this as your STATA driving test. You have come a long way! If you don’t like this at all perhaps you had better commission an ushabti to answer in case you are called upon to do statistics in the afterlife.

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