A real estateagency, located in a metropolitan area in the northeastern U.S., ke

Question

A real estateagency, located in a metropolitan area in the northeastern U.S., kept data on the various types of properties purchased in the area. Historically, 15% of purchases were for condominiums, 30% were for townhouses, 40% for single family homes, 10% for commercial properties and 5% for land. With changingdemographics, the agency wondered if the current distribution matches the historical distribution. Recent data showed the following table below. What is the standardized residual associated withTownhouses? (Round to two decimal places.)

Condo = 89

Townhouse 121

Homes 78

Commercial 25

Land 12

Explanation / Answer

since   TS > critical value

we reject the null and conclude that there is sufficient eviden that the current distribution does not match the historical distribution

p Oi Ei (Oi-Ei)^2/Ei condo 0.15 89 48.75 33.23205128 townhouse 0.3 121 97.5 5.664102564 homes 0.4 78 130 20.8 commercial 0.1 25 32.5 1.730769231 land 0.05 12 16.25 1.111538462 1 325 TS 62.53846154 critical value 9.487729037

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.