Market value estimation models for marine surface vessels with the use of multiple regression analysis.

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Author
Johns, Thomas D.
Date
1982-12Advisor
Fremgen, J.
Boger, D.
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Show full item recordAbstract
In order to determine more scientifically the value of
property assisted by the Coast Guard in search and rescue incidents,
regression analysis was conducted on various characteristics
of vessels in order to estimate their fair market
values. Data for this research were collected from the U.S.
Maritime Administration, the U.S. Coast Guard, and numerous
oil and steel companies. Mathematical models were developed for merchant ships, tugs, fishing vessels, petroleum-carrying
ships, and petroleum-carrying barges. Little correlation
could be found in the analysis of yachts. To estimate the
value of yachts as well as numerous other varieties of boats,
it is prudent to utilize a commercially developed data base.
Use of the models along with the commercial data base should
provide value estimates for approximately 90 percent of the
future Coast Guard search and rescue incidents. The search
and rescue data base for previous years cannot be corrected
because of the precision required in the measurement of vessel
attributes and the categorization of characteristics in
the Coast Guard assistance reports.
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