Rating Matrix
Comparison Values can now use Secondary values for Property Type, Land Use, and Attributes. The formula for coming up with a rating for a Sale Comparison is as follows:
Each Subject value is rated against every Sale value. All of these individual ratings are summed together. The sum is then divided by the number of distinct values between the two sets. By default, these comparisons use the rating scheme of 1 if they match and 0 if they do not match, however they also support Rating Matrices.
Example:
Assume a Subject and a Sale with the following values for their Secondary Land Use:
Subject |
Sale |
Cropland |
Irrigated |
And the Model being used has the following Rating Matrix applied for Land Use:
The rating for Secondary Land Use would be:
Subject Cropland vs. Sale Irrigated |
0.8 |
Subject Cropland vs. Sale Commercial |
0 |
Subject Cropland vs. Sale Transitional |
0 |
Subject Comercial vs. Sale Site |
0.8 |
Subject Comercial vs. Sale Transitional |
0.6 |
Sum |
2.2 |
The final rating is the Sum divided by the total distinct values between the two sets, which is
Rating = 2.2/5 = 0.44