Probabilities for various ratios, Business Law and Ethics

Assignment Help:

I am an executive being transferred from my home city on the west coast to one in the Midwest. I know nothing about the city I'm moving to, but I have to buy a house there. Realtors have told me all sorts of things about the area, but I don't trust them. Instead, I had data compiled on housing appraisals and pricing at sale, and the ratios of those two characteristics. It seems to me that the ratio of sale price to appraised price is a good indicator of how desirable a neighborhood is, but it's possible that there is skullduggery going on (crooked appraisers, for example), so I may be wrong in depending too much on this number. I need some guidance from your analysis to know.

I know I can't tell everything about a neighborhood from these numbers, but I'll use them as a starting point. I myself am not well versed in statistical analysis, so I'm hiring you to perform a basic analysis for me. Be assured that my brother-in-law is a stats teacher, so your analysis should be rigorous. But for me, you must write a report that, while it includes all your reasoning and calculations, still has parts that sum up your analysis and your recommendations in simple layman's terms. In the end, I will want your recommendations based on your analysis. I not only want your calculations, but your explanations.

My questions to you are:

  • Out of all the neighborhoods, which one is the most desirable, based on the willingness of buyers to pay over and above the appraisal price? Can you see any other indicators of desirability? You can use one or more methods for figuring out which one is best, just make sure you show me exactly how you calculate each one. Using more than one may be best, just to check yourself, but that's up to you.
  • Are there any neighborhoods with suspicious sales patterns that might reveal shady practices such as redlining (keeping out minorities by refusing to lend in certain places)? Are there any red flags you can see? Are there any irregularities that you think could signal the need for more investigation?
  • If there is one neighborhood you would judge superior, what is the probability that I can bide my time for a while and wait for a listing with a favorable sales ratio? And what are the probabilities for various ratios? In other words, how much over and above appraisal should I expect to pay, based on how badly I want a house? What are the probabilities for the various ratios?
  • What are your recommendations overall?

Related Discussions:- Probabilities for various ratios

Leases - voidable contracts, Leases - Voidable Contracts However a lea...

Leases - Voidable Contracts However a lease granted to an infant is binding on him unless he repudiates it then within a reasonable time after attaining the age for eighteen.

Account for the importance of policy evaluation, QUESTION 1 Explain cle...

QUESTION 1 Explain clearly how Public Policy making constitutes a major function of Government QUESTION 2 Account for the role of Public opinion in the identification o

Terms used in contract, Terms used in Contract However there are certa...

Terms used in Contract However there are certain terms may identify conditions and warranties like are implied into every contract covered through the Sale of Goods Act where

What was the unsc resolution 1540, UNSC adopted resolution 1540 UNSC ad...

UNSC adopted resolution 1540 UNSC adopted resolution 1540 stating to take appropriate and effective actions against any threat to international peace and security caused by the

Commercial Law, Silcraze City Council owns and operates a Gym. It charges $...

Silcraze City Council owns and operates a Gym. It charges $20 per month as membership fees. On the Gym Membership Card it is written that the Cardholder has the right to use all th

Purchase of shares - voidable contracts, Purchase of Shares - Voidable Cont...

Purchase of Shares - Voidable Contracts However an infant who applies to is allotted, a company's shares becomes a member to the company under S.28 (2) for the Companies Act f

State montevideo convention, State Montevideo Convention Montevideo C...

State Montevideo Convention Montevideo Convention states : "The political existence of the state is independent of recognition by other States. Even before recognition the st

Implied powers, Implied Powers:                                     Th...

Implied Powers:                                     The statement of Lord Cairns in 1875 in Ashbury Rail Co Ltd v Riche (22) to the effect that a contract beyond the objects o

Remedies of the buyer - sales of goods, Remedies of the Buyer - Sales of Go...

Remedies of the Buyer - Sales of Goods (a)Damages for non-delivery Section number 51 (1) provides that whether the seller wrongfully neglects or refuses to deliver the go

Legal framework of international shipping rules, Question 1: (a) Defin...

Question 1: (a) Define the term "Multimodal transport". (b) State the advantages of multimodal transport for forwarders. (c) Describe the different forms of multimodal trans

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd