=+48. Real estate crash? After the sub-prime crisis of late 2007, real estate prices fell almost everywhere in the U.S.

In 2006–2007 before the crisis, the average selling price of homes in a region in upstate New York was $191,300. A real estate agency wants to know how much the prices have fallen since then. They collect a sample of 1231 homes in the region in mid-2013 and find the average asking price M11_SHAR8696_03_SE_C11.indd 392 14/07/14 7:31 AM