To Examine the Local Housing Market in a Particular Region

question 37

Essay

To examine the local housing market in a particular region, a sample of 120 homes sold during a year are collected. The data is given below.



Apply hierarchical clustering with 10 clusters using LandValue ($), BuildingValue ($), Acres, Age, and Price ($) as variables. Be sure to Normalize input data in Step 2 of the XLMiner Hierarchical Clustering procedure. Use Ward's method as the clustering method. a. Use a PivotTable on the data in the HC_Clusters1 worksheet to compute the cluster centers for the clusters in the hierarchical clustering.
b. Identify the cluster with the largest average price. Using all the variables, how would you characterize this cluster?
c. Identify the smallest cluster.

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Definitions:

Discrete Emotion

A specific, identifiable feeling or emotional state such as joy, anger, fear, or sadness, distinct from continuous or abstract emotional states.

Marketers

Professionals who work to promote, sell, and distribute products or services, often tasked with understanding consumer needs and market trends.

Discrete Emotions

Specific categories of emotions that are distinct from one another, each associated with specific physiological and behavioral responses.

Marketing Context

refers to the external and internal factors that influence the planning, execution, and success of marketing strategies and campaigns.