a. What is the median sales price for existing homes? (to 1 decimal) $ thousand
ID: 2961858 • Letter: A
Question
a. What is the median sales price for existing homes? (to 1 decimal)
$ thousand
b. What is the median sales price for new homes? (to 1 decimal)
$ thousand
c. Do existing homes or new homes have the higher median sales price?
SelectExisting homesNew homesItem 3
What is the difference between the median sales prices? (to 1 decimal)
$ thousand
d. A year earlier the median sales price for existing homes was $208.4 thousand and the median sales price for new homes was $249 thousand. Compute the percentage change in the median sales price of existing and new homes over the one-year period.
Did existing homes or new homes have the larger percentage change in median sales price?
Selectexisting homesnew homesItem 9
The National Association of Realtors provided data showing that home sales were the slowest in 10 years (Associated Press, December 24, 2008). Sample data with representative sales prices for existing homes and new homes follow. Data are in thousands of dollars:
a. What is the median sales price for existing homes? (to 1 decimal)
$ thousand
b. What is the median sales price for new homes? (to 1 decimal)
$ thousand
c. Do existing homes or new homes have the higher median sales price?
SelectExisting homesNew homesItem 3
What is the difference between the median sales prices? (to 1 decimal)
$ thousand
d. A year earlier the median sales price for existing homes was $208.4 thousand and the median sales price for new homes was $249 thousand. Compute the percentage change in the median sales price of existing and new homes over the one-year period.
Existing homes (to 1 decimal) % SelectincreasedecreaseItem 6 New homes (to 1 decimal) % SelectincreasedecreaseItem 8
Did existing homes or new homes have the larger percentage change in median sales price?
Selectexisting homesnew homesItem 9
The National Association of Realtors provided data showing that home sales were the slowest in 10 years (Associated Press, December 24, 2008). Sample data with representative sales prices for existing homes and new homes follow. Data are in thousands of dollars: What is the median sales price for existing homes? (to 1 decimal) What is the median sales price for new homes? (to 1 decimal) Do existing homes or new homes have the higher median sales price? What is the difference between the median sales prices? (to 1 decimal) A year earlier the median sales price for existing homes was $208.4 thousand and the median sales price for new homes was $249 thousand. Compute the percentage change in the median sales price of existing and new homes over the one-year period. Did existing homes or new homes have the larger percentage change in median sales price?
Explanation / Answer
ascending order of existing sales: 112.8,140.2,169.9,177.5,181.3,202.5,230.0,315.5,470.2
ascending order of new home sales:149.5,175.0,195.8,215.5,225.3,275.9,350.2,525.0
a)median of existing sales:181.3
b)median of new sales: (225.3+215.5)/2 =220.4
c) new sales have higher median
d) differnce= 39.1
e) % change for existing : (208.4 - 181.3)/208.4 *100 =13% decrease
% change for new: (249-220.4)/249*100=11.5% decrease
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