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Glossary
Segmentation of formal regions
The compartmentalization or division of formal regions into smaller geographic areas for the purpose of carrying out a more detailed market area analysis.
Sensitivity analysis
The process of recalculating outcomes under alternative assumptions to determine the impact of the variable under analysis.
Service area
The geographical area that encompasses/delineates the principal share of clients or customers served by the tenants of the property (a concept that becomes less applicable as the service area of the customer base increases).
Sinking fund
A fund designed to accumulate a designated amount of money over a specified period of time. The periodic amount of money deposited plus compound interest will accumulate to the designated amount of money over the specified period of time.
Site analysis
The identification and evaluation of a site or sites to satisfy a given use or objective.
Site factors
Site-specific factors, features, conditions, or attributes which are important in the analysis or evaluation of a location/site (including relative location, visibility, aesthetics, landscaping, condition of existing structures, regulatory mechanisms, and lot size).
Site selection
The process of determining the best site for a specific use.
Space market
The supply and demand for the use of physical space.
Standard deviation
A measure of the amount of dispersion or variation of data points or values about the mean. The standard deviation has a very useful property in that 95.4% of the values of a data set will lie within two standard deviations (plus or minus) of the mean.
Standard Industrial Classification (SIC)
A classification scheme used for general recording purposes by government and industry to categorize and account for economic and employment activity by sector using a series of standardized and universally accepted codes.
Statistical descriptions
Drawing a reasonable conclusion or deduction from statistical evidence based on sample statistics, while attaching a statement as to the likelihood that an assertion made about a given statistical population is true (in probabilistic terms).
Statistical population
The total set of elements or the collection of all individuals, items, or objects under consideration in a statistical inquiry. In short, a population is a universe comprising all members of a specified group.