RUNNING HEAD: INCREASED FORECLOSURE
Increased Foreclosure Rates in Las Vegas
Robert Hampsten
Increased Foreclosure Rates in Las Vegas
Home foreclosure rates are on the rise in America due to the current economic crisis. As a result rapidly growing cities are seeing larger increases in foreclosure rates than most rural towns. Las Vegas happens to be one of the cities with increased foreclosures. According to Applied Analysis (2008) “during the month of November 2008 Clark County reported 2,127 new foreclosures, which doubled the number reported in the same month of the prior year.” Team B discussed reasons for the increase in foreclosure rates in Las Vegas and what variables have had a large affect on the increased foreclosure rates. Furthermore, Team B researched how foreclosures affect renters, prospective buyers and homeowners in Las Vegas, while discussing biases that occur when sampling data.
This research study will now show the calculations for measuring central tendency, dispersion and skew for Team B’s data that has been collected over the past several weeks. In addition, the data that has been collected regarding increased foreclosure rates in Las Vegas will be displayed using graphic techniques in form of a frequency distribution and histogram. Taking into account the skew value and histogram Team B will also discuss the measure of central tendency and dispersion for the data that has been collected. Furthermore, our team will evaluate the data that has been collected on foreclosure rates in Las Vegas and determine if our findings have answered Team B’s problem statement or if more research might be necessary.
The Research Problem
For years the price of homes steadily increased until these prices skyrocketed and essentially capped out in 2007. Las Vegas which has been a rapidly growing city for many years witnessed the increase firsthand when home prices increased “10.3% from January 2006 to January 2007” (Smith,...