AVM Glossary

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  • z

  • The number calculated in a z-Test, whose significance is evaluated by reference to a z-Table.
  • A table of critical values associated with the z-Test.
  • A test of any of a number of hypotheses in inferential statistics that has validity if the sample size is sufficiently large and the underlying data are normally distributed.
  • The exercise of the police power to restrict land owners as to the use of their land and/or the type, size, and location of structures to be erected thereon.

Sources:

a)       AVMetrics

b)      AVMs 201: A Practical Guide to the Implementation of Automated Valuation Models, Jim Kirchmeyer, 2008.

c)       IAAO 2015, Glossary for Property Appraisal and Assessment, 2015. (2013 online: https://www.iaao.org/media/Pubs/IAAO_GLOSSARY.pdf )

d)      Collateral Assessment & Technologies Committee, Summary of Definitions & Terms, 2006.

e)      Joint Industry Task Force on AVMs, IAAO Standard on AVM Glossary, September 2003. https://www.iaao.org/media/standards/AVM_STANDARD.pdf

f)        Appraisal Institute, Joint Industry Task Force on Automated Valuation Models, Work Group Terminology, 2005.

g) Merriam-Webster (https://www.merriam-webster.com/)