Appraisal Statistical Methods

The following sale prices were recorded: $245,000, $250,000, $250,000, $255,000, $280,000. What is the mode?

The following sale prices were recorded: $185,000, $192,000, $188,000, $195,000, $190,000. What is the median sale price?

The following sale prices were recorded: $425,000, $450,000, $435,000, $425,000, $475,000. What is the median sale price?

The following data set represents sale prices: $280,000, $290,000, $290,000, $295,000, $340,000. What is the mode?

The range of a data set containing the values $450,000, $475,000, $425,000, $500,000, $440,000 is:

Regression in real estate valuation refers to:

A set of comparable sales has a mean of $250,000 and a standard deviation of $20,000. What is the coefficient of variation?

A property sold for $400,000 and resold three years later for $463,050 with no physical change. What compound annual rate does this indicate?

A histogram of neighborhood sale prices shows two distinct peaks. What does this most likely mean?

What is the range of the following capitalization rates: 7.5%, 8.2%, 6.8%, 9.1%, and 7.9%?

What is the mean of the following sale prices: $245,000, $252,000, $238,000, $265,000, and $250,000?

What does it mean to validate a regression model?

In a market study, what does a frequency distribution of sale prices show?

An appraiser includes months elapsed since each sale as a variable in a price model. What is this intended to capture?

An appraiser presents a statistical analysis in a report. What must accompany it for the reader to weigh it?

An R-squared of 0.86 in a sales model indicates that:

A dataset of comparable sales shows the following values: $310,000, $315,000, $320,000, $325,000, $390,000. What is the range of this dataset?

Which measure would best summarize the most common lot size in a subdivision?

The following rental rates were observed: $1,200, $1,150, $1,200, $1,300, $1,250. What is the mode?

Paired sales analysis and regression differ mainly in that regression:

Given the following data set: 12, 15, 18, 15, 20, 22, 15. What is the mode?

Price per square foot declines as homes get larger. What does this imply for a linear regression of price on area?

A distribution of sale prices has a long tail toward the high end. What follows for its mean and median?

Why should an appraiser plot the data before running a regression?

The following sale prices were recorded: $285,000, $295,000, $285,000, $305,000, $275,000. What is the median sale price?

A trend line fitted to quarterly median prices is used to adjust older sales. What must be confirmed first?

Why can price per square foot mislead when comparing two homes of very different sizes?

Why does adding more variables to a regression not necessarily improve it?

The following sale prices were recorded: $285,000, $295,000, $310,000, $295,000, $305,000. What is the median sale price?

Nine sales cluster between $240,000 and $260,000, but one estate sale closed at $95,000. Which measure of central tendency best describes this market?

Why is a geometric mean rather than an arithmetic mean used to summarize annual rates of price change?

Sale prices are arrayed from lowest to highest before analysis. What is the primary purpose?

Several matched pairs give adjustments of $9,000, $10,000, $11,000 and $32,000 for the same feature. What should the appraiser do?

Given the following sale prices: $285,000, $295,000, $310,000, $290,000, and $320,000, what is the median sale price?

Multicollinearity in a regression model occurs when:

A confidence interval around an estimated mean expresses:

A distribution in which the mean exceeds the median is described as:

In a data set of comparable sales, the range is $45,000 with a highest value of $385,000. What is the lowest value?

What does the statistical measure 'median' represent in a data set?

Adding one unusually high sale to a data set will have what effect?

What statistical measure represents the middle value when data points are arranged in order from lowest to highest?

In a regression predicting sale price from living area, which is the dependent variable?

Why is months of supply a useful statistic in market analysis?

Why does a data set drawn only from one listing service risk being incomplete?

A regression fitted to homes between 1,200 and 2,400 square feet is used to value a 4,000 square foot house. What is the concern?

Median sale price in an area fell 6 percent while median price per square foot rose 2 percent. What does this most likely indicate?

An analysis excludes 15 of 60 sales without explanation. What is the concern?

How is a characteristic such as the presence of a pool entered into a regression model?

What distinguishes the sample standard deviation formula from the population version?

An appraiser wants to support a garage adjustment using regression. What does the analysis require?