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Using Experiment To Help Understanding Valuation Issues
Hwa Ting Kien1, Abdul Majid Rohayu2, Suriyana bt Mustafar3.
Traditional teaching method using lectures are unable to relate to
real property valuation processes. Recent explorations of the experimental
method have lead to its applications into the field of real estate. Experimental
method utilize experiments and demonstrations to simulate real estate
processes to examine various theories and hypotheses. The design of an
experimental method involves: 1. Determine the learning outcome, 2. Design
the experiment, 3. Implementation, 4. Statistical test and results. The main
part of the study took place during three class days with the students divided
into two groups. The Expeimental (EXP) Group is subject to observing a
demonstration whereas the Control Group (CON) attend the normal lectures.
The test scores are analysed using mean score of EXP and CON groups
and mean difference analysis using ANOVA analysis. The ANOVA shows
significant difference between the two groups of students in understanding
valuation smoothing. The group that has undergone experiments is found to
have a higher score in the test and shows better understanding towards the
smoothing process. Significant statistical difference in mean test values
implies the success of the application. The experimental method is found to
improve understanding theoretical principles and improve problem solving
skills. Upon successful validation of the method, it can be applied to other
similar topics/issues in the same subject or other subjects. Thus widening
the teaching delivery options in the classroom other than lectures, tutorials,
case studies etc.
Affiliation:
- Universiti Teknologi MARA, 40450 Shah Alam, Selangor, Malaysia
- Universiti Teknologi MARA, 40450 Shah Alam, Selangor, Malaysia
- Universiti Teknologi MARA, 40450 Shah Alam, Selangor, Malaysia
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