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October 17, 2011 (Regular Meeting) <br />Quality Point Range <br />Page 761 <br />Practice Facilities � <br />Driving Range <br />Putting Green <br />Sand Traps /Chipping Area <br />Total { 0 <br />Total Points <br />0 AA <br />90- 100pts <br />A <br />80 -90pts <br />B <br />70 -79pts <br />C <br />55 -69pts <br />D <br />40 -54pts <br />E <br />0 -40pts <br />See Chapter 11 - <br />Golf Courses for <br />the appropriate pricing <br />schedule based on <br />the total points <br />for each golf course. <br />Chapter 10 <br />STATISTICS AND THE APPRAISAL PROCESS <br />PREFACE <br />Like many of the technical aspects of appraising, such <br />as income valuation, <br />you have to work_ with and use <br />statistics before you <br />can really begin to <br />understand what <br />they tell you about your data. The <br />point is that just <br />because you are <br />not familiar with <br />these tools, do not be <br />hesitant in trying a <br />few simple ones <br />as you will soon <br />gain mastery thereof <br />and seek out new and <br />better tools. <br />STATISTICS AND THE APPRAISAL PROCESS <br />INTRODUCTION <br />Statistics offer a way for the appraiser to qualify many of the heretofore <br />qualitative decisions which he has been forced to use in assigning values. <br />In the process, he can learn more about how the data he uses behaves as well <br />as how it relates to the property valuation at fair market. <br />This brings us to the definition of that word "STATISTICS ". A statistical <br />measure or "statistic" is a tool that helps you better describe the <br />characteristics of a set of data, such as the relationship of sale price to <br />appraised value. <br />While useful, a far more technical and comprehensive definition is <br />appropriate rather than the more simplistic one given above, namely, <br />"statistics is the theory and method of analyzing quantitative data obtained <br />from samples of observations in order to study and compare sources of <br />variance of phenomena, to help make decisions to accept or reject <br />