Research Reports from the Department of Operations
Document Type
Report
Publication Date
11-1-1976
Abstract
A methodology is developed for the second stage of a Computer-Assisted Mass Appraisal System, which corrects the estimated assessed values of properties for their location. Recent sales close to the parcel in question are given heavier weight than other sales. The methodology is based on constructing a response surface, where the optimal response surface minimizes a weighted average of the sum of squared residuals and a quantity that represents the smoothness of the response surface. An algorithm, for which convergence has been proven, is provided for finding the optimal response surface.
Keywords
Operations research, Real property--Valuation--Computer programs, Response surfaces (Statistics)
Publication Title
Technical Memorandums from the Department of Operations, School of Management, Case Western Reserve University
Issue
Technical memorandum no. 415
Rights
This work is in the public domain and may be freely downloaded for personal or academic use
Recommended Citation
Ott, Teunis J., "A Two-Stage Approach for Geographic Effects in Cama Systems" (1976). Research Reports from the Department of Operations. 619.
https://commons.case.edu/wsom-ops-reports/619