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| Random sample - A sample in which each item of the population has an equal chance of being included and, by extension, each possible combination of n items has an equal chance of occurrence. |
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| Range - (1) The maximum value of a sample minus the minimum value. (2) The difference between the maximum and minimum values that a variable may assume. |
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| Rank - The order of a set of values according to the value of each in relation to the other. For example, the numbers 0.95, 0.87, 1.09, and .83 have ranks of 3, 2, 4, 1. |
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| Rate of return - See discount rate. |
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| Ratio study - A study of the relationship between appraised or assessed values and market values . Indicators of market values may be either sales ( sales ratio study ) or independent ôexpertö appraisals ( appraisal ratio study ). Of common interest in ratio studies are the level and uniformity of the appraisals or assessments. See also level of appraisal and level of assessment. |
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| Read-and-write instruction - A kind of command embedded in a computer program that has the capability of both accessing a data file and altering it. |
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| Read-only instructions - A kind of command embedded in a computer program that has the capability only of accessing the records in a data file, not of altering them. |
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| Real estate transfer documents - The various kinds of deeds whereby real property is conveyed. |
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| Real property - See property. |
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| Real property transfer tax - The tax payable to a state (and sometimes to a locality) upon the sale of a real estate and the recordation of the transfer. The payment is usually proportional to the sale price and is commonly used by appraisers in the absence of more accurate information to deduce the price for which the property sold. |
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