How does the intended use of an appraisal bear on how much statistical support is needed?
Correct Answer
D) Scope of work follows what credible results require
The analysis must be sufficient for credible assignment results in light of the intended use and the identified appraisal problem. Relevant data, property complexity, assignment conditions and analytical limitations also matter. No universal statistical quota follows from property type or the fee paid. Applicable legal or program requirements may add conditions, but they do not remove responsibility for credible analysis.
Why This Is the Correct Answer
The analysis must be sufficient for credible assignment results in light of the intended use and the identified appraisal problem. Relevant data, property complexity, assignment conditions and analytical limitations also matter. No universal statistical quota follows from property type or the fee paid. Applicable legal or program requirements may add conditions, but they do not remove responsibility for credible analysis.
More Statistics Questions
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Assessment-to-sale ratios are 0.94, 0.96, 0.98, 1, 1.01. Compute the arithmetic mean. Report as a decimal ratio to three places.
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