Glossary of Terms - Property Value
Definitions are referenced from various governmental real estate sites,
IAAO
Kilometer
Unit of length equal to 1,000 meters.
Equals 0.6214 statute miles.
Kruskal-Wallis Test
A test in inferential statistics, valid
for all types of numerical data, that seeks to determine whether the observations
in a sample came from one population as opposed to three or more distinct, homogeneous
subpopulations. This test is used in assessment to analyze assessment ratios from
three or more classes of property to determine whether significant assessment biases
are present among the classes of property. When only two classes are being Compared,
the appropriate test is the Mann-Whitney test.
