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An Employee Prepared an Appraisal of a Property for His

question 55

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An employee prepared an appraisal of a property for his real estate development company.The employee had been told that the appraisal would be used by the company to attract a potential investor,Mr.Jones,for the company's client,Mr.Lee.Because the appraiser carelessly forgot to check the recent changes in the zoning by-laws,the appraisal was not accurate.Mr.Jones was misled about the value of the land and suffered a financial loss of $20 000.On these facts,which of the following is true?


Definitions:

Placebo Group

In drug research, a group given an inert substance to assess the psychological effect of receiving a treatment.

Experimenter Expectancy Effect

The influence that the researcher's expectations can have on the outcome of a study, potentially biasing the results.

Floor Effect

Failure of a measure to detect a difference because it was too difficult.

Paper-and-pencil Questionnaire

A traditional survey method where participants respond to questions written on paper by physically marking their answers.

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