A journalist with The Financial Post, has written an article suggesting that a collection of paintings recently donated to the nation had been valued well above market value. He felt a responsibility to attempt a systematic appraisal of the collection. Data on the art in the collection (all by the Canadian painter James W. Morrice) as well as comprehensive data on auction sales of Morrice's work were collected. The journalist has used simple means and moving averages to arrive at appraised values for the collection which are little more than half the original appraisal. Has he missed something or are his methods too simplistic? (This case is a sequel to Morrice Collection (A), case 9A92E006. A Microsoft Excel data file is available with these cases, product 7A92E006.)
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