Goodman and Davis Live in an Area of New York

question 12

Multiple Choice

Goodman and Davis live in an area of New York City in which there is a 20-story limit on buildings.Goodman owns a 12-story building.Davis wishes to build a 26-story building.Goodman wants to sell Davis a portion of his unused air rights.The air rights being sold in this scenario are called:

• A)ad coelum rights.
• B)ad inferos rights.
• C)transferable development rights.
• D)air capture rights.

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Definitions:

Root Mean Square of Errors

A measure of the differences between values predicted by a model or an estimator and the values observed, expressing the square root of the mean of the squares of these differences.

Actual Value

The true, factual, or real value of a measurement, differing from an estimated or theoretical value.

Forecast Value

The estimated or predicted value of a variable or set of variables at some point in the future.

Mean Square Error

A measure of the average of the squares of the errors—that is, the average squared difference between the estimated values and the actual value.