Effect of Database Length and Weights on Transactions Evidence Timber Appraisal Models
Abstract:Although transaction evidence appraisal (TEA) is used extensively for timber appraisal throughout the West, the effect of database length and weighing of data has been largely ignored. This paper investigates how 1-, 2-, and 3-yr model-building database lengths, with equal, biannual, quarterly, and monthly weighing schemes effect TEA prediction accuracy and responsiveness. Accuracy was measured by the "average absolute error" of predicted stumpage value from actual stumpage value. Visual inspection of the prediction trajectory served to evaluate responsiveness to market changes. Results indicate that quarterly and monthly weighing and 1-yr database length improved statistical prediction accuracy, and 1-yr database length and monthly weighing proved most responsive. West. J. Appl. For. 9(2): 71-76.
Document Type: Journal Article
Affiliations: Intermountain Research Station, USDA Forest Service, Missoula, MT 59807
Publication date: 1994-07-01
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- Each regional journal of applied forestry focuses on research, practice, and techniques targeted to foresters and allied professionals in specific regions of the United States and Canada. The Western Journal of Applied Forestry covers the western United States, including Alaska, and western Canada; WJAF will also consider manuscripts reporting research in northern Mexico that has potential application in the southwestern United States.
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