Statistics, Modeling, and Finance EXAM COMPLETE
QUESTIONS AND CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS) |ALREADY GRADED A+||BRAND
NEW!!
statistics is defined as: - ✔✔ANSWER✔✔-the body of principles
and methods concerned with extracting useful information from
numerical data.
Data, by the way, is defined as: - ✔✔ANSWER✔✔-In statistics,
items of information used to draw conclusions about, or to
describe, a population. For example, housing data might include
the following for each house in the data set: improved living area,
number of bedrooms, lot size, and type of roofing material.
The definition of appraisal - ✔✔ANSWER✔✔-(noun) the act or
process of developing an opinion of value; an opinion of value.
(adjective) of or pertaining to appraising and related functions
such as appraisal practice or appraisal services
Descriptive statistics - ✔✔ANSWER✔✔-A branch of statistics
concerned only with characterizing, or describing, a set of
numbers. The measures used to characterize a set of data (e.g.,
average, maximum, coefficient of dispersion) or charts and tables
depicting the data.
Inferential statistics is defined as: - ✔✔ANSWER✔✔-the process
of drawing conclusions about population characteristics through
analysis of sample data.
,A graph is defined as: - ✔✔ANSWER✔✔-A chart or visual
representation of data relying on references to two axes, which
may be either numerical or categorical in scale. For example, a
scatter plot is a graph referencing two numerically scaled axes,
whereas a bar chart is a graph referencing one numerical axis
and one categorical axis.
Graphic analysis is defined as: - ✔✔ANSWER✔✔-Quantitative
techniques used to identify and measure adjustments to the sale
prices of comparable properties; a variant of statistical analysis in
which an appraiser interprets graphically displayed data visually
or through curve fit analysis. Graphs can also be used to support
and exhibit value trends for comparison elements in qualitative
analysis.
variable is defined as: - ✔✔ANSWER✔✔-In statistics, a
characteristic or attribute of an item, service, or individual that can
change from observation to observation. For example, improved
living area is a characteristic of a house that can change with
each observation.
A dependent variable is defined as: - ✔✔ANSWER✔✔-The
variable being estimated (outcome or response variable) in a
predictive model such as a multiple linear regression equation.
scatter diagrams - ✔✔ANSWER✔✔-With a scatter diagram, we
plot two variables on a graph. Then we study the pattern to see if
there is a relationship. Here we have plotted data for 10 house
sales. We have entered dots where the price on the vertical axis
intersects the monthly rent on the horizontal axis. For example,
the first dot on the left represents a property that was rented for
$900 and sold for $84,000.
,Trend is defined as: - ✔✔ANSWER✔✔-A series of related
changes brought about by a chain of causes and effects. Trends
are forecast through economic base analysis, statistical analysis,
market analysis, and analysis of economic indicators and surveys.
Random Relationship - ✔✔ANSWER✔✔-Sometimes variables
are not related. There is no causal effect exerted by the
independent variable on the dependent variable.
A scatter diagram will also reveal if there is no relationship. Here,
I have plotted a bunch of home sales with the sales price on one
axis and the age of the owner's dog on the other.
Negative Relationship - ✔✔ANSWER✔✔-Scatter diagrams can
also record negative relationships. We said that a positive
correlation trends up and to the right. A negative relationship
moves up and towards the left. That would mean a higher amount
of one variable would lead to a lower price in the other variable.
As an example, I have plotted some sales here. On one axis is
the sales price and on the other is the effective age of the
property. You might suspect that prices would decline as the
effective age increases.
The Greek letter Delta () means change, in mathematics. So, the
% key stands for the percent of change from one number to
another. - ✔✔ANSWER✔✔-To calculate what percentage one
number is of a total, follow these steps:
Calculate total
Key in number whose percentage equivalent you wish to find
Press %T key
Example: In your office, for January and February, Joe appraised
24 houses, Sue appraised 38 and you appraised 34. What
percent did each appraise?
24 ENT 38 + 34 +
24 %T
, 25.0
CLX 38 %T
39.6
CLX 34 %T
35.4
So Joe accounted for 25.0% of the total office production, Sue for
39.6% and you for 35.4%.
An opinion can be all of the following EXCEPT -
✔✔ANSWER✔✔-a guarantee
Which of these is NOT a reason statistics is becoming more
important today? - ✔✔ANSWER✔✔-Most appraisals are
performed with three to five comparable sales
How much is (145.78 + 216.82) X (590.50 - 188.25) ÷ 46.12? -
✔✔ANSWER✔✔-Use your 12C: 145.78 ENTER 216.82 + 590.5
ENTER 188.25 - X 46.12 ÷ Answer is $3,162,53
How much is (459.31 + 125.75) X (329.2 - 245.85) ÷ 23.4? -
✔✔ANSWER✔✔-Use your 12C: 459.31 ENTER 125.75 + 329.2
ENTER 245.85 - X 23.4 ÷ Answer is 2,083.96
All the charts and graphs in the course were prepared using -
✔✔ANSWER✔✔-Microsoft Excel
"Quantitative techniques used to identify and measure
adjustments to the sale prices of comparable properties; a variant
of statistical analysis in which an appraiser interprets graphically
displayed data visually or through curve fit analysis" is the
definition of _____________ analysis. - ✔✔ANSWER✔✔-graphic
At the end of last month, your bank balance was $2,754.40.
During the month, you deposited $250.00, $543.25, $1,100, and
QUESTIONS AND CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS) |ALREADY GRADED A+||BRAND
NEW!!
statistics is defined as: - ✔✔ANSWER✔✔-the body of principles
and methods concerned with extracting useful information from
numerical data.
Data, by the way, is defined as: - ✔✔ANSWER✔✔-In statistics,
items of information used to draw conclusions about, or to
describe, a population. For example, housing data might include
the following for each house in the data set: improved living area,
number of bedrooms, lot size, and type of roofing material.
The definition of appraisal - ✔✔ANSWER✔✔-(noun) the act or
process of developing an opinion of value; an opinion of value.
(adjective) of or pertaining to appraising and related functions
such as appraisal practice or appraisal services
Descriptive statistics - ✔✔ANSWER✔✔-A branch of statistics
concerned only with characterizing, or describing, a set of
numbers. The measures used to characterize a set of data (e.g.,
average, maximum, coefficient of dispersion) or charts and tables
depicting the data.
Inferential statistics is defined as: - ✔✔ANSWER✔✔-the process
of drawing conclusions about population characteristics through
analysis of sample data.
,A graph is defined as: - ✔✔ANSWER✔✔-A chart or visual
representation of data relying on references to two axes, which
may be either numerical or categorical in scale. For example, a
scatter plot is a graph referencing two numerically scaled axes,
whereas a bar chart is a graph referencing one numerical axis
and one categorical axis.
Graphic analysis is defined as: - ✔✔ANSWER✔✔-Quantitative
techniques used to identify and measure adjustments to the sale
prices of comparable properties; a variant of statistical analysis in
which an appraiser interprets graphically displayed data visually
or through curve fit analysis. Graphs can also be used to support
and exhibit value trends for comparison elements in qualitative
analysis.
variable is defined as: - ✔✔ANSWER✔✔-In statistics, a
characteristic or attribute of an item, service, or individual that can
change from observation to observation. For example, improved
living area is a characteristic of a house that can change with
each observation.
A dependent variable is defined as: - ✔✔ANSWER✔✔-The
variable being estimated (outcome or response variable) in a
predictive model such as a multiple linear regression equation.
scatter diagrams - ✔✔ANSWER✔✔-With a scatter diagram, we
plot two variables on a graph. Then we study the pattern to see if
there is a relationship. Here we have plotted data for 10 house
sales. We have entered dots where the price on the vertical axis
intersects the monthly rent on the horizontal axis. For example,
the first dot on the left represents a property that was rented for
$900 and sold for $84,000.
,Trend is defined as: - ✔✔ANSWER✔✔-A series of related
changes brought about by a chain of causes and effects. Trends
are forecast through economic base analysis, statistical analysis,
market analysis, and analysis of economic indicators and surveys.
Random Relationship - ✔✔ANSWER✔✔-Sometimes variables
are not related. There is no causal effect exerted by the
independent variable on the dependent variable.
A scatter diagram will also reveal if there is no relationship. Here,
I have plotted a bunch of home sales with the sales price on one
axis and the age of the owner's dog on the other.
Negative Relationship - ✔✔ANSWER✔✔-Scatter diagrams can
also record negative relationships. We said that a positive
correlation trends up and to the right. A negative relationship
moves up and towards the left. That would mean a higher amount
of one variable would lead to a lower price in the other variable.
As an example, I have plotted some sales here. On one axis is
the sales price and on the other is the effective age of the
property. You might suspect that prices would decline as the
effective age increases.
The Greek letter Delta () means change, in mathematics. So, the
% key stands for the percent of change from one number to
another. - ✔✔ANSWER✔✔-To calculate what percentage one
number is of a total, follow these steps:
Calculate total
Key in number whose percentage equivalent you wish to find
Press %T key
Example: In your office, for January and February, Joe appraised
24 houses, Sue appraised 38 and you appraised 34. What
percent did each appraise?
24 ENT 38 + 34 +
24 %T
, 25.0
CLX 38 %T
39.6
CLX 34 %T
35.4
So Joe accounted for 25.0% of the total office production, Sue for
39.6% and you for 35.4%.
An opinion can be all of the following EXCEPT -
✔✔ANSWER✔✔-a guarantee
Which of these is NOT a reason statistics is becoming more
important today? - ✔✔ANSWER✔✔-Most appraisals are
performed with three to five comparable sales
How much is (145.78 + 216.82) X (590.50 - 188.25) ÷ 46.12? -
✔✔ANSWER✔✔-Use your 12C: 145.78 ENTER 216.82 + 590.5
ENTER 188.25 - X 46.12 ÷ Answer is $3,162,53
How much is (459.31 + 125.75) X (329.2 - 245.85) ÷ 23.4? -
✔✔ANSWER✔✔-Use your 12C: 459.31 ENTER 125.75 + 329.2
ENTER 245.85 - X 23.4 ÷ Answer is 2,083.96
All the charts and graphs in the course were prepared using -
✔✔ANSWER✔✔-Microsoft Excel
"Quantitative techniques used to identify and measure
adjustments to the sale prices of comparable properties; a variant
of statistical analysis in which an appraiser interprets graphically
displayed data visually or through curve fit analysis" is the
definition of _____________ analysis. - ✔✔ANSWER✔✔-graphic
At the end of last month, your bank balance was $2,754.40.
During the month, you deposited $250.00, $543.25, $1,100, and
