The Assessment Ratio of Real Property in a Community May

question 41

Multiple Choice

The assessment ratio of real property in a community may be

• A) 100 percent of its appraised value.
• B) more than its fair market value.
• C) more than its appraised value.
• D) any of the above.

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Definitions:

Relative Frequency

The ratio of the number of times a specific value or event occurs to the total number of occurrences in a given dataset.

Population

The entire group of individuals or instances about whom the research is concerned.

Expected Value

The weighted average of all possible values a random variable can take on, with the weights being the probabilities of each outcome.

Loan Applications

Formal requests submitted by individuals or businesses to borrow money from financial institutions.