Two predefined choices. Yes or no. 0 or 1
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Binary Data
The most common measure of dispersion.
,Steps:
1. Find the mean
2. Subtract the mean from each observation
3. Square the deviations from the mean
4. Sum the deviations squared
5. Divide by n-1. (Variance)
6. Take square root of variance
+- 1 SD from mean = 68% of the population
+- 2 SD from mean = 95% of the population
+- 3 SD from mean = 99% of the population
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Standard Deviation
Each of the variables are independent from the other variables. A change in one
variable does not directly impact any other variables
MV = ($/sqft x sqft) + ($/plumbing fixture x #fixtures) + ($/car stall x #/cars) + ...
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Additive Model Structure
1. Estimate the value of the land as if vacant and available to be developed to its
highest and best use
2. Estimate cost new (RCN)
, 3. Estimate accrued depreciation - the loss in value from any and all causes
4. Subtract depreciation from RCN
5. Add in the land value
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Steps in the Cost Approach
Indicates how far, on average, observations are from the median point.
Steps:
1. Array the data
2. Find the median
3. Find the absolute difference
between the median and
each observation
4. Sum the absolute deviations
5. Divide the sum of the
absolute deviations by n
equals the average absolute
deviation (AAD)
6. Divide the AAD by the
median x 100
The acceptable COV for smaller heterogeneous areas is 15
It is approximately 75% of a COV
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Coefficient of Dispersion
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Binary Data
The most common measure of dispersion.
,Steps:
1. Find the mean
2. Subtract the mean from each observation
3. Square the deviations from the mean
4. Sum the deviations squared
5. Divide by n-1. (Variance)
6. Take square root of variance
+- 1 SD from mean = 68% of the population
+- 2 SD from mean = 95% of the population
+- 3 SD from mean = 99% of the population
Give this one a try later!
Standard Deviation
Each of the variables are independent from the other variables. A change in one
variable does not directly impact any other variables
MV = ($/sqft x sqft) + ($/plumbing fixture x #fixtures) + ($/car stall x #/cars) + ...
Give this one a try later!
Additive Model Structure
1. Estimate the value of the land as if vacant and available to be developed to its
highest and best use
2. Estimate cost new (RCN)
, 3. Estimate accrued depreciation - the loss in value from any and all causes
4. Subtract depreciation from RCN
5. Add in the land value
Give this one a try later!
Steps in the Cost Approach
Indicates how far, on average, observations are from the median point.
Steps:
1. Array the data
2. Find the median
3. Find the absolute difference
between the median and
each observation
4. Sum the absolute deviations
5. Divide the sum of the
absolute deviations by n
equals the average absolute
deviation (AAD)
6. Divide the AAD by the
median x 100
The acceptable COV for smaller heterogeneous areas is 15
It is approximately 75% of a COV
Give this one a try later!
Coefficient of Dispersion
