The Following Is a Sample of the Percentage Increases in the Price

question 163

Multiple Choice

The following is a sample of the percentage increases in the price of a house in eight regions of the U.S.
75, 125, 160, 160, 160, 225, 225, 300

Compute the standard deviation of the given sample. Please, use the value for mean, rounded to the nearest whole number in your calculations. Round answer to the nearest whole number.

• A) \(s = 69\)
• B) \(s = 248\)
• C) \(s = 179\)
• D) \(s = 110\)
• E) \(s = 138\)

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Definitions:

Slope of Budget Line

The rate at which one good can be exchanged for another without changing the overall spending, reflecting trade-offs in consumer choice.

Elasticity of Demand

A measure of how much the quantity demanded of a good responds to a change in the price of that good, with higher elasticity indicating a stronger response.

Change in Price

A variation in the cost of a good or service over a period which can affect demand and supply dynamics in the market.

Price of X

The amount of money required to purchase a specified good or service, indicated here as "X."