What is the name of the trial and error process for quantifying the relationship between dependent and independent variables in property assessment?

The Adaptive Estimation Procedure (AEP) is the correct answer because it refers to a systematic trial-and-error method used to determine the relationship between dependent and independent variables within property assessments. This procedure allows assessors to incrementally adjust their estimates based on feedback from statistical models and previous outcomes. It is particularly useful in property assessment because it enables assessors to refine their approaches and improve accuracy in estimating property values by systematically testing various assumptions and inputs.

Other options do not specifically refer to this iterative and adaptive methodology. The Market Value Assessment Method typically relates to determining the value of property based on market trends and comparable property sales rather than a trial-and-error approach. The Property Valuation Methodology could encompass various techniques and does not uniquely identify a process involving iterative estimation. The Standard Appraisal Procedure outlines valuation standards and techniques but lacks the adaptive, feedback-driven component that characterizes the Adaptive Estimation Procedure.