Data Science - Surveys ,Binomial And Count Data - Hedonic Pricing - Recreation Demand - Logit Model Assignment Help

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Data Science  Assignment Help

TASK 1: logit model (zero, one data) The relationship under investigation is the choice of possums to eat feed type 1 or feed type 2.  The variables record the distance each food source was placed from the possum nest (in metres), and records the choice of food type (0 = food type 1 and 1 = food type 2).  The data is in the Feed1 data file.  The research question you are trying to answer is, if a possum is located equal distance from each feed type, will they choose feed type 1 or feed type 2? Your answer must fit on a single page and must include: (i) an appropriate plot; (ii) a regression results summary table; and (iii) a statement about which feed we expect a possum to choose, along with sufficient evidence to support this conclusion. 2: Recreation demand (count data model) The RecreactionDemand3 data file contains information from a survey of people about how frequently they have visited Perth Park in the past 12 month.  The costpark variable is the estimated travel cost for people to get to the park.  The costsub variable is the cost of getting to an alternative park that has the same features as Perth Park.  The income variable is a measure of the respondent’s income. Background From independent records it is known that 80,000 people visit Perth Park each year.  The government is considering increasing the cost of visiting the park by $5.  Before the government makes a decision the minister wants to know certain information.  Specifically, the minister wants to know the following things: for a person faced with average income and costs, how often are they likely to visit Perth Park at the moment, ie what is the predicted number of visits at the moment for such a person, and following the increase in price, what is the predicted number of visits for such a person. Given 80,000 people visit the Park each year, using a discount rate of 3 percent, 5 percent, and 9 percent, and the current information on the cost of visiting the park, what is the Net Present Value of the recreational value of the Perth Park to the community? The shape of the distribution of Park users described via a histogram. Are there any important qualifications to the results. Your answer must fit on a single page.  The text required to answer the questions is not substantial.  When presenting answers to ministerial questions you do not need to provide any technical detail, but what you have done needs to be clear.  This means you need an introduction sentence that provides details on the issue your results address.  To answer question part (i) you can use either one or two sentences to state the outcomes.  Similarly, for question part (ii) you can write a single sentence or use a table.  Note if you use a table it must be formatted to journal publication standard.  For part (iii) you may need to go back to look at material from earlier in the course to refresh your memory on the creation of a histogram.  Again, for full marks the quality of the plot must be publication standard. (iv) you just need to think about what you have done. 3: Hedonic pricing (continuous data) The hedonic data file contains information about house sale prices and the characteristics of these houses. The data columns are as follows: House price = is the house sale price ($’000) bedrooms = the number of bedrooms for the sold house bathrooms = the number of bathrooms for the sold house land area = the land area of the sold house (m²) house age = the age of the sold house green space = whether the sold house located within walking distance to public open space time = year of the house sold location = the suburb the sold house located Prepare a short written report (no more than two pages) that investigates the implicit price of living within walking distance to public open space and also explains your approach to modelling.  Hint: you will want to consider as part of your testing approach: (a) a spatial fixed effects model; (b) a time fixed effects only model; and (c) a time and spatial fixed effects model, and use formal tests to establish the model you think is most appropriate.  You will also want to include a summary table for the final model you estimate, and reference a method, such as the box-cox transformation to help guide your selection of model functional form (transformation of the Y variable)   Relative to Question 1 and Question 2, which are quite straightforward, this question involves more work.   The data is not ‘well behaved’ so you need to make judgment calls about what to do.  A wide variety of approaches are acceptable.

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