The 15th Annual Demographia International Housing Affordability Survey: 2019 reports the “median multiple,” the ratio of median home price to median household income, for 188 metropolitan areas in the United States. (A higher median multiple means that it’s harder for residents of that area to purchase a home.) The resulting data appears below.

a. Construct a stem-and-leaf display of the data.
b. What is a typical, or representative, median multiple?
c. Describe the shape of the distribution.
d. Values above 5.0 earn the city a “Severely Unaffordable” rating. What proportion of cities in the study have severely unaffordable housing?

Transcribed Image Text:

2.6 3.0 4.1 3.1 3.0 3.8 3.9 2.9 4.1 3.1 3.5 4.3 3.6 3.4 2.8 4.5 4.9 3.0 2.6 4.3 2.5 3.6 2.8 2.9 2.8 4.5 4.5 3.2 2.8 3.0 3.9 2.3 2.7 4.3 5.5 2.4 5.6 2.8 3.2 3.0 2.7 5.2 2.9 4.9 4.4 3.1 4.7 2.8 3.2 4.1 3.1 3.3 2.8 3.3 4.0 4.9 3.0 3.0 4.0 4.2 5.3 3.9 3.9 8.6 3.7 2.9 2.9 3.2 3.4 3.0 2.8 9.2 3.4 6.0 5.7 3.9 3.4 3.1 2.7 4.5 7.1 3.6 5.2 4.3 4.3 3.8 2.2 5.6 5.0 9.6 7.5 2.6 9.4 8.1 7.5 3.1 2.6 4.1 2.5 4.0 2.8 5.0 3.3 3.2 4.3 4.8 3.5 5.1 5.3 4.5 3.8 3.2 3.1 2.8 4.3 4.4 3.1 2.8 6.7 3.4 3.7 3.5 2.6 2.5 2.8 3.2 2.4 3.4 3.7 3.4 3.4 3.0 5.0 2.8 5.5 3.4 3.7 2.7 4.4 3.2 8.8 4.1 3.7 4.6 3.3 3.8 3.0 3.2 4.0 3.1 3.8 3.0 2.9 3.1 3.9 3.4 3.8 3.1 2.8 3.2 3.8 4.0 2.3 3.4 4.3 2.6 2.7 5.8 3.7 5.6 7.5 3.9 4.4 3.9 7.8 4.6 3.2 2.5 5.6 2.8 5.9 2.3 2.2 5.4 3.5 4.3 2.8 2.2