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Chapter 2: Q. 33 (page 132)

Suppose that you are buying a house. You and your realtor have determined that the most expensive house you can afford is the 34thpercentile. The 34thpercentile of housing prices is $240,000in the town you want to move to. In this town, can you afford 34%of the houses or 66%of the houses?

Short Answer

Expert verified

We can afford 34%of the houses.

Step by step solution

01

Given information

Given that34thpercentile of housing prices is$240,000

02

Explanation

In this question it is given we can afford only the 34thpercentile. Percentile means dividing all possible prices into 100scales from lowest and highest. Hence 34%percentile means this $240,000is the 34thhighest price among all possible prices. So we can afford only this much price only.

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Most popular questions from this chapter

David County has six high schools. Each school sent students to participate in a county-wide science competition. Table 2.41shows the percentage breakdown of competitors from each school, and the percentage of the entire student population of the county that goes to each school. Construct a bar graph that shows the population percentage of competitors from each school.

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