The Sales Record of a Real Estate Company for the Month

question 18

Essay

The sales record of a real estate company for the month of May shows the following house prices rounded to the nearest $1,000). Values are in thousands of dollars.
$$\begin{array} { l l l l l } 105 & 55 & 45 & 85 & 75 \\30 & 60 & 7 5&79 & 95\end{array}$$
a. Develop a frequency distribution and a percent frequency distribution for the house prices. Use 5 classes and have your first class be 20 - 39.)
b. Develop a cumulative frequency and a cumulative percent frequency distribution for the above data.
c. 70%
c. What percentage of the houses sold at a price below $80,000?

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Definitions:

Adhesion Conscionability

A legal concept referring to the fairness of contract terms in a standard-form agreement, where one party has significantly more power to dictate the terms.

Exculpatory Clause

A statement in a contract that frees one party (usually the drafter of the agreement) from all liability arising out of performance of the contract, generally based on factors such as consumer ignorance or a great deal of unexplained fine print that serve to deprive the less powerful party of a meaningful choice.

Age of Majority

The legal age at which an individual is considered capable of entering into contracts and other legal bindings, marking the transition into legal adulthood.

Necessity

A concept in law and ethics that allows for actions under exceptional circumstances, typically for immediate need or survival.