Test Review: Iaao 311 Study Guide Graded A+

Cross-tabulation {Ans: are used for comparing two qualitative variables or grouped quantitative variables.}Median {Ans: Gives no added weight to legitimate outliers}General expense considerations {Ans: All appropriate expenses are included. Inappropriate expenses are excluded (e.g., depreciation and debt amortization). Nonrecurring expenses are prorated (e.g., replacements).}modern pricing theory {Ans: Value in exchange is determined by the interaction of supply and demand. Any given market price will equalize the amount of a good produced and the amount of that good purchased. An increase in home prices will decrease the amount of homes purchased. Conversely, a decrease in prices will bring more buyers into the market.}IAAO Standards recommend that you conduct routine property inspections every {Ans: six years}The t-value {Ans: the ratio of a regression coefficient to its standard error (the higher the ratio, the more significant the variable). The t-values above approximately ***2.00*** are significant at the 95% confidence level.}