Available Case Studies
How Much is a Fireplace Worth?
Author: Dick De Veaux, Williams College
Nearly 60% of the houses in Saratoga County New York have fireplaces. On average, those houses sell for about $65,000 more than houses without fireplaces. Is the fireplace the reason for the difference? This case study starts by the simple comparison of the prices with and without fireplaces. But, there are other characteristics of the houses with fireplace that may affect the price as well. The intent is to show the danger of using simple group comparisons to answer a question that involves many variables. The study then builds a series of more sophisticated models to show how adjustment by other variables can lead to a more sensible conclusion.
The data are a random sample of 1,728 homes taken from public records from the Saratoga County (http://www.saratogacountyny.gov/departments/real-property-tax-service-agency/) and collected by Candice Corvetti (Williams ’07) for her senior thesis.
How Much Does a Diamond Cost?
Author: Dick De Veaux, Williams College
Everyone who has thought about buying a diamond knows about the four C’s of diamond pricing: Carat (weight), Color, Cut and Clarity. What are the tradeoffs among these factors? Can we build a model to accurately predict the price of a diamond knowing just these characteristics? The object of the study is to produce and diagnose such a model and to assess its limitations.
The data are a sample of 2,690 diamonds taken from the site http://www.adiamor.com/ in 2010 by Lou Valente of JMP.
Keeping a Web Cache Fresh
Authors: Carrie Grimes, Google and Deb Nolan, University of California, Berkeley
Internet searches such as those preformed by Google, Bing, and Ask, keep copies of Web pages so that when you make a query, they can quickly search their stored pages and return their findings to you. A saved page is called a Web cache. By using caches, instead of searching hundreds of thousands of sites, the search can be performed in real time. Of course, if the page has changed since the last time it was stored then the search engine serves stale pages and the results are either out of date, or just wrong. In order to keep the cache fresh, Web pages need to be visited regularly and the cache updated with any changed pages. How often do Web pages change? How often should the sites be visited to keep the cache fresh? This case study will consider these questions by creating models of page updating.
The data are a collection of the behavior of 1,000 Web pages. Each of these pages was visited every hour for 30 days. The page was compared to the previous visit, and if it had changed, the cache was updated and time of the visit was recorded.