Price indexing is a result of a good market analysis. What is it, and how can it help? Price indexing solves many of the problems that the 1004mc was intended to do. It is not difficult to do. The result looks something like this: If you do this using the recommended specific procedure, you will […]
Major challenges exist within our appraiser education given the dramatic changes in technology. These challenges include appraisal standards, our basic and advanced education, and some claims by software providers. A quick overview: Subjective acceptability in standards; Inferential assumption in curriculum; Regression coefficients all over the place. Subjective acceptability. Many consider appraisal to still be […]
If regression is just a math formula, how can anyone claim “Ours is better than theirs”? Who do we believe? The reality is that the standard least-squares formula is just the inner algorithm. There is the input, the magical regression algorithm, and the output. Four useful appraiser things to consider: The analyst’s decision that regression […]
Why is it so easy? Why is it so hard? [Author’s Note: At last year’s joint AI and AI Canada conference in June, 2017, in Ottawa. my talk was titled, Common Regression Errors and Mistakes.] Regression is nothing but a mathematical formula. How can it be wrong? Not all that complicated actually – find the slope […]
Statistics are infernal for a few basic reasons. Misuse of words. Using different meanings at different times. (Like ‘infer’); Assume a clever tool will give you a clever answer (like regression); The fallacy that inferential statistics works without random sampling; The worst fallacy that regression is always based on an inferential sampling process. Let’s look […]