Statistical Analysis of Housing Prices in Georgia

• Activity Number: 480 - Model Testing and Prediction
• Type: Contributed
• Date/Time: Wednesday, August 1, 2018 : 8:30 AM to 10:20 AM
• Sponsor: Business and Economic Statistics Section
• Author(s): Mitra Devkota*
• Keywords: Regression; Spatial Autocorrelation; Residuals; Geographically Weighted Regression

Abstract

The standard regression models used in the analysis of real estate data do not address the issue of spatial autocorrelation of residuals of the models. These models assume that the observations are independent of each other. In this study, we will use Geographically Weighted Regression (GWR) to model the housing prices in the state of Georgia of the United States.