Real estate pricing. A study of a sample of 1057 houses in upstate New York reports the
Question:
Real estate pricing. A study of a sample of 1057 houses in upstate New York reports the following percentages of houses falling into different Price and Size categories.
Price Low Med Low Med High High Size Small 61.5% 35.2% 5.2% 2.4%
Med Small 30.4% 45.3% 26.4% 4.7%
Med Large 5.4% 17.6% 47.6% 21.7%
Large 2.7% 1.9% 20.8% 71.2%
a) Are these column, row, or total percentages? How do you know?
b) What percent of the highest priced houses were small?
c) From this table, can you determine what percent of all houses were in the low price category?
d) Among the lowest priced houses, what percent were small or medium small?
e) Write a few sentences describing the association between Price and Size.
Step by Step Answer:
Business Statistics
ISBN: 9781292269313
4th Global Edition
Authors: Norean Sharpe, Richard De Veaux, Paul Velleman