IAAO 300 EXAM PREP | MOCK
TEST QUESTIONS AND ANSWERS
KEY
The listing of data in order of magnitude (either ascending or descending) is termed
a/an - Answer-array
The charting of a frequency distribution using a ______ illustrates the extent to which
sales ratios are in a normal (bell-shape) distribution - Answer-histogram
List five common measures of dispersion - Answer-range, quartiles, percentiles,
standard deviation, coefficient of variation
_________ show the distribution of values for two binary or discrete variables - Answer-
Crosstabulations
_________ show the relationship between two quantitative variables with the dependent
variable placed on the vertical axis and the independent variable placed on the
horizontal axis - Answer-scatter diagrams
A ______ can be used to show several variables simultaneously, or the same variable
for different strata - Answer-polygon
_________ compare statistics (usually measures of central tendency) by strata for
example average sale price by neighborhood - Answer-breakdowns
show summary statistics for a dependent variable by combinations of two independent
variables, for example, average sale price per square foot by construction grade and
neighborhood - Answer-contingency tables
interpretation of the _________ as a measure of spread or dispersion depends on the
data being "normally distributed" (approximating a bell-shaped curve). - Answer-
standard deviation
The _________ of _________ expresses the standard deviation as a percentage of the
mean - Answer-coefficient, variation
cases beyond the whiskers in box plots are _________ and _________ - Answer-
extremes and outliers
, _________ are exercises in applied economic analysis and require the use of logical,
systematic methods for the collecting, analyzing and processing of data to produce
supportive, well-documented value estimates - Answer-Both single-property and mass
appraisal
A basic model structure for the cost approach would be - Answer-MV=LV+BV
What element is a property of characteristic data? - Answer-income and expense data
A _________ plays a key role in summarizing the achievements of a new system or
reappraisal and in preparing for the next reappraisal - Answer-sales ratio study
Model development has what components? - Answer-Specification, calibration, quality
assurance
_________ data can take any value in a given range and is often based on
measurements - Answer-Continuous
_________ data is qualitative items that have only two possibilities, for example yes or
no - Answer-binary
A _________ data edit produces a warning to the operator indicating the entry may be
invalid - Answer-soft
A _________ data edit precludes the operator from making certain entries - Answer-
hard
A _________ is a graphical representation of a frequency distribution - Answer-
Histogram
When data is normally distributed, _________ percent will be within two standard
deviations of the _________ - Answer-95-mean
A good way to show the distribution of qualitative variables is _________ - Answer-
crosstabulation
Scatter diagrams show the relationship between _________ and _________ variables -
Answer-dependent, independent
Cost models follow the structure of the _________ models - Answer-generic/hybrid
_________ should contain; replacement cost tables, depreciation schedules, guidelines
- Answer-Cost manuals
Material labor, and supervision are _________ costs - Answer-direct
TEST QUESTIONS AND ANSWERS
KEY
The listing of data in order of magnitude (either ascending or descending) is termed
a/an - Answer-array
The charting of a frequency distribution using a ______ illustrates the extent to which
sales ratios are in a normal (bell-shape) distribution - Answer-histogram
List five common measures of dispersion - Answer-range, quartiles, percentiles,
standard deviation, coefficient of variation
_________ show the distribution of values for two binary or discrete variables - Answer-
Crosstabulations
_________ show the relationship between two quantitative variables with the dependent
variable placed on the vertical axis and the independent variable placed on the
horizontal axis - Answer-scatter diagrams
A ______ can be used to show several variables simultaneously, or the same variable
for different strata - Answer-polygon
_________ compare statistics (usually measures of central tendency) by strata for
example average sale price by neighborhood - Answer-breakdowns
show summary statistics for a dependent variable by combinations of two independent
variables, for example, average sale price per square foot by construction grade and
neighborhood - Answer-contingency tables
interpretation of the _________ as a measure of spread or dispersion depends on the
data being "normally distributed" (approximating a bell-shaped curve). - Answer-
standard deviation
The _________ of _________ expresses the standard deviation as a percentage of the
mean - Answer-coefficient, variation
cases beyond the whiskers in box plots are _________ and _________ - Answer-
extremes and outliers
, _________ are exercises in applied economic analysis and require the use of logical,
systematic methods for the collecting, analyzing and processing of data to produce
supportive, well-documented value estimates - Answer-Both single-property and mass
appraisal
A basic model structure for the cost approach would be - Answer-MV=LV+BV
What element is a property of characteristic data? - Answer-income and expense data
A _________ plays a key role in summarizing the achievements of a new system or
reappraisal and in preparing for the next reappraisal - Answer-sales ratio study
Model development has what components? - Answer-Specification, calibration, quality
assurance
_________ data can take any value in a given range and is often based on
measurements - Answer-Continuous
_________ data is qualitative items that have only two possibilities, for example yes or
no - Answer-binary
A _________ data edit produces a warning to the operator indicating the entry may be
invalid - Answer-soft
A _________ data edit precludes the operator from making certain entries - Answer-
hard
A _________ is a graphical representation of a frequency distribution - Answer-
Histogram
When data is normally distributed, _________ percent will be within two standard
deviations of the _________ - Answer-95-mean
A good way to show the distribution of qualitative variables is _________ - Answer-
crosstabulation
Scatter diagrams show the relationship between _________ and _________ variables -
Answer-dependent, independent
Cost models follow the structure of the _________ models - Answer-generic/hybrid
_________ should contain; replacement cost tables, depreciation schedules, guidelines
- Answer-Cost manuals
Material labor, and supervision are _________ costs - Answer-direct
