Summary Statistics for AIMCO Business Statistics Project Worksheet

Description

Explanation & Answer length: 6 Pages.

• Project Length: Roughly 6 pages (including graphs and tables), double spaced, but it can be longer.
• This paper must be written in the format of a research paper (minus the references, unless you want to include some—but it’s not required).
• A maximum of three students can work together—or you can work alone, or in pairs.

Idea: Why do prices of an investment in REIT go up or down? In other words, to obtain insight in the drivers of REIT returns.

1. INTRODUCTION (This section should be a minimum of 1 page):

What is the population we are studying (Apartment Investment & Management Co: https://www.aimco.com/ )? Give a brief introduction on what this REIT is, where it invests, etc. What kind of data is this (time series data or cross sectional data)? What is the size of the sample? What do you hope to show using this data?

2. DESCRIPTIVE STATISTICS (This section should be a minimum of 2 pages):

2.1 Include a list of the variables and their descriptions (see Excel spreadsheet).

2.2 Summarize the return and the other nine variables that you are analyzing.  Make a table with the Means, Medians, Standard Deviations, etc. like the following:

Table 1: Summary Statistics for AIMCO

Variable	Mean	Median	Standard Deviation	10% percentile	90% percentile
Return
Price-to-Book
Debt-to-Equity
ROE
Operating Margin
Beta
Share Volatility
FCF yield
Asset Turnover
Capex to Assets
Share turnover

2.3 Include two graphs:

• Show the price of the share in a graph over time
• Make a histogram for the return of the share; you have to select the borders of the bins (in total 7-10 bins)

Below the graphs write a brief explanation of what each graph shows.

2.4 Include a table with the correlations between all ten variables (including return).

3. INFERENTIAL ANALYSIS (This section should be a minimum of 2 pages):

3.1 Perform multiple linear regressions with all explanatory variables

Return = βo + β₁X₁ + β₂X₂ + …. + β₁₀X₁₀ + e                       (1)

In Table 2 below are the results from equation (1).

Present your regression results in a table and briefly explain your findings.

                Table 2: Multiple Linear Regression Model 1 Results

Variable	Coefficient (β)	p-value	Significance *)
Intercept (βo)
Price-to-Book
Debt-to-Equity
etc

R2
Adjusted R2
MSE (=SSR/n)
F-test

*) *Significant at the 10% level, ** significant at the 5% level, *** significant at the 1% level.

3.2 Adjusted regression. Exclude indicators that are individually not significant at the 10% level, and with the remaining indicators you run a second regression.

Return = βo + β_..X_.. + …. + β_..X_.. + e                        (2)

In Table 3 below are the results from equation 2.

Present your regression results in a table and briefly explain your findings.

                Table 3: Multiple Linear Regression Model 2 Results

Variable	Coefficient (β)	p-value	Significance *)
Intercept (βo)
Price-to-Book
Debt-to-Equity
etc
R2
Adjusted R2
F-test

CONCLUSION

Conclusion: Which variable(s) explain the return the best?

Teams

Will, Austin, Kevin	Abby, Malika, Ziv	Lance Varela
Nicole, Sarah, Julia	Brianna, Alexa, Brooke	Connor Elliott
Sam, Joe, Jager	Karl, Eric, Lori	Matt Maynard
Vincenzo, Mue		Ross Campbell

Date	Share price	Return	Price-to-Book	Debt-to-Equity	ROE	Operating Margin	Beta	Share Volatility	FCF yield	Asset Turnover	Capex to Assets	Share turnover
12/31/2000	45.33	9.93	2.14	147.73	2.19	32.55	0.46	18.72	-1.33	0.17	0.00	11.88
3/31/2001	40.35	-9.43	1.67	127.30	1.12	32.66	0.69	23.66	-1.47	0.18	-0.80	31.47
6/30/2001	43.76	10.19	1.89	130.75	1.78	32.41	0.60	10.10	-1.42	0.19	0.00	13.47
9/30/2001	41.09	-4.48	2.09	137.65	1.09	36.88	0.59	19.77	-1.42	0.19	0.00	16.07
12/31/2001	41.51	2.76	0.54	149.64	0.42	38.45	0.59	11.07	-1.42	0.19	-1.27	17.80
3/31/2002	43.91	7.57	2.17	161.62	3.56	42.21	0.65	12.59	-1.42	0.17	-0.80	22.02
6/30/2002	44.66	3.41	1.92	135.59	3.80	39.93	0.60	16.63	-1.42	0.17	0.00	21.65
9/30/2002	35.27	-19.37	1.54	156.68	5.21	37.82	0.78	15.09	-1.42	0.17	-7.19	28.32
12/31/2002	34.02	-1.42	1.58	168.30	1.76	36.63	0.67	11.85	-1.42	0.16	-0.60	26.26
3/31/2003	33.12	-0.48	1.59	176.91	1.56	33.29	0.61	25.70	-1.42	0.15	-0.67	43.44
6/30/2003	31.41	-2.91	1.54	171.35	1.92	33.85	0.52	24.14	-2.32	0.15	-0.57	37.23
9/30/2003	35.73	15.49	1.81	191.86	1.46	30.75	0.56	12.27	1.02	0.15	-1.90	31.17
12/31/2003	31.32	-10.82	1.62	184.65	2.99	28.15	0.44	13.84	0.56	0.14	-0.65	40.79
3/31/2004	28.22	-8.14	1.51	180.04	2.82	27.41	0.57	17.88	-1.55	0.14	-2.06	44.99
6/30/2004	28.26	2.06	1.56	193.03	0.78	26.08	0.02	17.25	-2.01	0.14	-0.64	41.48
9/30/2004	31.57	13.65	1.68	173.57	6.99	22.02	-0.13	17.86	-1.95	0.14	-1.84	40.26
12/31/2004	34.99	12.54	1.86	160.91	8.80	19.58	0.01	15.71	-2.45	0.14	-1.42	35.05
3/31/2005	33.77	-1.92	1.80	177.94	9.03	20.35	0.00	23.99	-2.47	0.14	-3.14	42.64
6/30/2005	37.15	11.61	2.10	194.98	9.25	20.92	-0.03	14.74	-3.56	0.13	-1.26	37.49
9/30/2005	35.20	-3.76	2.03	192.10	2.08	18.23	-0.01	15.58	-3.24	0.14	-1.12	38.73
12/31/2005	34.38	0.75	2.13	191.08	-0.92	21.95	0.60	18.51	-3.04	0.14	-1.20	43.62
3/31/2006	42.58	23.84	2.64	199.04	1.61	20.82	0.86	17.05	-2.81	0.14	0.00	40.58
6/30/2006	39.44	-6.08	2.46	207.00	4.14	22.05	1.07	18.18	-2.81	0.15	-1.57	42.40
9/30/2006	49.39	26.61	3.37	244.28	1.36	20.34	1.75	13.70	-2.81	0.15	-1.49	39.39
12/31/2006	50.85	2.96	3.58	251.06	5.94	19.55	1.88	20.10	-2.81	0.16	-2.29	47.04
3/31/2007	52.37	2.98	3.64	258.51	3.96	17.65	1.94	29.89	-2.81	0.16	-1.92	73.45
6/30/2007	45.77	-11.61	3.36	265.96	1.98	20.26	1.23	33.79	-2.95	0.16	-2.36	81.34
9/30/2007	40.97	-9.42	3.26	302.10	3.95	16.22	1.43	32.65	-5.57	0.16	-6.23	87.93
12/31/2007	31.53	-16.15	3.25	326.79	-2.84	8.64	1.77	50.43	-5.68	0.13	-2.22	98.46
3/31/2008	32.51	3.11	3.96	374.09	5.28	14.24	0.76	48.78	-5.36	0.13	-1.43	116.09
6/30/2008	30.92	-3.69	3.42	348.12	13.40	18.14	0.74	38.15	-4.72	0.12	-2.06	98.38
9/30/2008	33.92	16.38	3.56	327.63	30.56	14.77	-0.35	84.08	-2.68	0.12	-1.90	152.81
12/31/2008	14.75	-41.92	2.04	349.87	44.25	4.03	1.15	176.15	-4.16	0.13	-2.39	283.21
3/31/2009	7.00	-51.69	0.93	376.20	46.75	10.45	1.69	133.59	-3.95	0.13	-0.75	315.57
6/30/2009	11.30	63.32	1.58	374.62	10.79	10.77	2.36	67.85	-3.67	0.13	-0.89	232.41
9/30/2009	18.83	67.80	2.86	362.05	-15.86	6.46	2.47	59.54	-2.42	0.13	-0.83	125.16
12/31/2009	20.33	8.61	3.20	331.82	-19.99	0.33	2.36	39.02	-3.08	0.13	-1.04	134.23
3/31/2010	23.51	15.64	4.24	353.96	-19.68	8.43	2.43	19.36	-2.05	0.13	-0.50	105.01
6/30/2010	24.73	5.76	4.73	361.86	-18.70	12.42	2.26	57.04	-1.67	0.14	-1.03	153.42
9/30/2010	27.30	10.89	5.75	353.85	-18.10	13.02	2.21	27.22	-1.07	0.14	-1.72	103.14
12/31/2010	32.99	21.33	7.83	372.72	-25.91	11.54	2.18	18.98	1.73	0.14	-2.42	73.26
3/31/2011	32.52	-0.97	8.50	394.13	-27.02	13.89	1.65	29.40	1.78	0.14	-0.42	63.41
6/30/2011	32.60	0.71	9.56	432.57	-32.93	17.93	1.40	24.75	1.85	0.14	-0.44	75.88
9/30/2011	28.24	-12.89	9.06	406.31	-32.36	16.28	0.87	42.03	1.54	0.14	-0.80	129.46
12/31/2011	29.25	4.11	11.03	388.64	-32.26	15.68	0.78	34.74	1.38	0.14	-2.92	112.23
3/31/2012	33.72	16.06	16.45	446.73	-29.73	15.88	0.80	23.93	1.20	0.14	-0.83	73.11
6/30/2012	34.51	3.03	4.99	351.16	-8.76	18.93	0.96	25.27	1.27	0.14	-0.88	81.44
9/30/2012	33.18	-3.11	4.68	417.41	-1.69	19.32	0.94	17.64	1.25	0.15	-1.08	61.49
12/31/2012	34.55	4.89	4.65	357.35	14.93	23.94	0.80	12.47	0.54	0.15	-1.28	56.58
3/31/2013	39.15	14.19	5.45	396.55	19.24	22.16	0.87	13.94	0.39	0.15	-1.04	48.42
6/30/2013	38.36	-1.24	5.60	423.74	13.71	24.29	0.87	27.42	0.23	0.15	-1.50	62.16
9/30/2013	35.67	-6.19	5.01	410.98	18.42	26.45	0.78	21.91	-0.37	0.15	-1.72	42.49
12/31/2013	33.08	-6.41	4.20	350.30	23.30	29.16	0.30	16.28	-0.29	0.16	-1.24	48.40
3/31/2014	38.59	17.64	4.77	348.64	30.10	26.18	0.04	17.78	-0.52	0.16	-1.55	62.20
6/30/2014	41.20	7.64	4.95	294.40	37.71	26.70	0.08	10.21	-0.77	0.16	-1.45	46.95
9/30/2014	40.63	-0.59	4.46	260.25	41.59	27.33	0.22	14.56	-0.46	0.16	-1.60	42.23
12/31/2014	47.43	17.57	5.22	270.26	30.94	26.35	0.18	17.59	-0.46	0.16	-1.48	56.06
3/31/2015	50.26	6.70	4.26	202.24	27.48	25.00	-0.56	25.14	-0.13	0.16	-1.15	52.52
6/30/2015	47.15	-5.41	3.93	202.83	25.68	26.82	0.02	16.57	-0.23	0.16	-1.65	48.70
9/30/2015	47.27	1.06	4.02	214.29	16.55	25.98	0.34	30.26	-0.21	0.16	-1.68	55.17
12/31/2015	51.11	8.94	4.32	207.86	18.94	27.16	0.99	20.72	-1.69	0.16	-4.23	46.19
3/31/2016	53.40	5.30	4.58	215.10	11.82	26.35	1.00	15.90	-1.62	0.16	-1.30	48.56
6/30/2016	56.38	6.38	4.29	197.28	21.45	26.19	1.02	17.35	-1.34	0.16	-1.38	43.20
9/30/2016	58.62	4.71	4.62	210.04	21.50	24.25	0.97	25.27	-1.21	0.16	-1.48	50.41
12/31/2016	58.03	-0.28	4.54	189.66	27.66	24.68	0.68	17.10	-2.28	0.16	-6.07	56.32
3/31/2017	56.63	-1.63	4.48	192.99	27.22	24.12	0.55	15.85	-2.44	0.16	-1.41	40.14
6/30/2017	54.87	-2.30	5.11	260.31	13.68	24.58	0.45	9.85	-2.52	0.16	-1.57	53.18
9/30/2017	56.00	2.91	5.38	270.76	14.57	23.86	0.38	11.85	-2.32	0.16	-1.52	41.29
12/31/2017	55.81	0.48	4.47	220.78	19.74	7.53	-0.36	11.77	0.12	0.16	-1.65	37.14
3/31/2018	52.03	-5.90	4.15	229.44	24.33	22.23	0.70	19.70	-1.24	0.16	-3.84	46.38
6/30/2018	54.01	4.74	4.47	243.76	25.89	20.64	0.85	16.10	-1.47	0.16	-1.97	37.71
9/30/2018	56.35	5.22	3.47	158.87	55.68	20.26	0.96	13.29	-1.53	0.16	-1.55	32.30
12/31/2018	56.03	0.29	4.03	218.54	42.19	29.43	0.46	28.59	-1.67	0.16	-1.89	60.71
3/31/2019	62.27	12.00	4.25	195.50	51.25	18.95	0.60	14.15	-0.29	0.15	-1.40	54.20
6/30/2019	62.06	0.44	4.23	205.63	55.52	19.00	0.60	16.08	-0.45	0.15	-2.12	43.08
9/30/2019	64.56	4.81	4.55	230.52	18.24	17.82	0.62	12.34	-1.38	0.15	-3.12	43.59
12/31/2019	63.95	-0.15	4.32	232.50	27.79	16.94	0.52	14.22	-1.28	0.14	-1.57	43.14
3/31/2020	43.52	-31.15	3.04	253.22	11.58	17.54	0.94	128.30	-1.73	0.14	-1.38	78.44
6/30/2020	46.61	8.25	3.30	260.89	10.47	15.69	0.85	46.12	-1.10	0.14	-1.30	60.61
9/30/2020	41.75	-8.24	2.37	198.45	8.06	7.69	0.99	43.04	-1.25	0.13	-2.57	56.92

Do you have a similar assignment and would want someone to complete it for you? Click on the ORDER NOW option to get instant services at EssayBell.com