Page 40 - Regression Guideline for AMC
P. 40
MAPE
(Mean Absolute Percentage Error)
The following table shows the 95% confidence intervals for each of the sta6s6cally significant property characteris6cs for the Orlando Florida regression model (prior to removing outliers on sales price). It is en6rely defensible for an appraiser to use some value within the 95% CI for any characteris6c when making final adjustments to selected comparable proper6es although an explana6on of why the midpoint was not used should be provided.
Characteris:c
B
95% Confidence Interval
Bank Owned (yes/no)
-‐44,529.60
-‐72,590
-‐16,468.70
Number of bedrooms
-‐32,781.27
19,538.49
74,103.17
Number of stories
-‐40,025.42
-‐69,256.98
-‐10,793.87
Year of construc6on
1,553.22
110.53
2,995.92
Number of bathrooms
46,820.83
19,538.49
74,103.17
Square footage
153.08
114.57
191.59
Pool (yes/no)
48,435.91
22,864.14
74,007.68
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