Which Mass Appraising Model uses the equation MVS = b + (b1 × X1) + (b2 × X2) + (b3 × X3)?

The correct answer is an Additive Model, which is represented by the equation MVS = b + (b1 × X1) + (b2 × X2) + (b3 × X3). In this model, the value of the mass appraisal (MVS) is determined by summing a constant (b) and the products of the coefficients (b1, b2, b3) multiplied by their respective variables (X1, X2, X3). This formulation indicates that each variable contributes additively to the total model value, meaning that the effects of individual variables are independent and do not interact with one another.

This approach is particularly useful in mass appraisal because it allows for straightforward interpretation of the contribution of each factor to the overall property value. The coefficients indicate how much a unit change in each variable impacts the appraised value.

In contrast, other models mentioned would use different mathematical structures. For example, a Multiplicative Model would involve the variables being multiplied together, which implies interactions between the factors, rather than adding their individual effects. The Generic Model does not refer to a specific mathematical representation but generally implies a broader application of various models without a standard formula. The Hybrid Model typically combines multiple types of models