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Methods of Analyzing Qualitative Variable Correlation on the Real Estate Market

Author

Listed:
  • Dmytrów Krzysztof

    (Institute of Econometrics and Statistics, University of Szczecin)

  • Gdakowicz Anna

    (Institute of Econometrics and Statistics, University of Szczecin)

  • Putek-Szeląg Ewa

    (Institute of Econometrics and Statistics, University of Szczecin)

Abstract

Variables occurring in a real estate market are frequently presented on scales other than interval or ratio scales. Most frequently, the scale is an ordinal (for instance – onerous, unfavourable, neutral, favourable), or possibly a nominal one. That is why the use of scales intended for quantitative attributes (such as Pearson linear correlation coefficient) is not possible. The paper presents the results of employing other coefficients (Kendall’s τB and Spearman’s ρ coefficients) in analyzing correlations on the real estate market.

Suggested Citation

  • Dmytrów Krzysztof & Gdakowicz Anna & Putek-Szeląg Ewa, 2020. "Methods of Analyzing Qualitative Variable Correlation on the Real Estate Market," Real Estate Management and Valuation, Sciendo, vol. 28(1), pages 80-90, March.
    • Handle: RePEc:vrs:remava:v:28:y:2020:i:1:p:80-90:n:7
    DOI: 10.2478/remav-2020-0007
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    References listed on IDEAS

    as
    1. Foryś Iwona & Gaca Radosław, 2016. "Application of the Likert and Osgood Scales to Quantify the Qualitative Features of Real Estate Properties," Folia Oeconomica Stetinensia, Sciendo, vol. 16(2), pages 7-16, December.
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    More about this item

    Keywords

    qualitative variables; Kendall’s τB correlation coefficient; Spearman’s ρ coefficient; real estate attributes;
    All these keywords.

    JEL classification:

    • C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
    • R33 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Nonagricultural and Nonresidential Real Estate Markets

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