Folia Oeconomica Stetinensia (2016-12-01)

Application of the Likert and Osgood Scales to Quantify the Qualitative Features of Real Estate Properties

  • Foryś Iwona,
  • Gaca Radosław

DOI
https://doi.org/10.1515/foli-2016-0021
Journal volume & issue
Vol. 16, no. 2
pp. 7 – 16

Abstract

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The variables used in statistical research can be measured on different scales. According to Stevens the most common division of measurement scales distinguish four main types: nominal, ordinal, interval and ratio. The chosen scale of measurement implies further the possibility of applying certain statistical methods. For socio-economic research it is frequent that among independent variables appear variables of a qualitative nature. This study presents the idea of the application of the Likert and Osgood scales for the evaluation and quantification of qualitative variables in the real estate valuation process.

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