A land should be appraised on the basis of the official land price called Gongsiziga in Korean, and a building be done on the basis of the standard cost of construction assessed by Korea Appraisal Board. In such cases as the real property valuation, r...
A land should be appraised on the basis of the official land price called Gongsiziga in Korean, and a building be done on the basis of the standard cost of construction assessed by Korea Appraisal Board. In such cases as the real property valuation, reconciling value indicators is not necessarily taken into consideration. Only one value indicator called an appraised value is concentratedly reflected upon in the process of the real property valuation, but many kinds of value indicators assessed by appraisers ought to be thought over at valuation process on the buildings of fractional interest and partial holding. In those cases of valuation, only one value indicator might be also chosen as an appraised value among many kinds of value indicators because of some stipulations within Korean public laws.
While value indicators being reconciled, the concepts of tolerance limit and student s t-distribution theory in Statitics will be applied to protect against the distinguished deviation between an appraised value and many kinds of value indicators. In the process of stating to reconcile value indicators, this article concentratedly deliberates on the concept and methodology of tolerance limit by means of student s t-distribution theory in Statitics.