One Indication of How Strong the Real Estate Market Is $$\text { 2007. Use } \alpha = .01$$

question 87

Essay

One indication of how strong the real estate market is performing is the proportion of
properties that sell in less than 30 days after being listed. Of the condominiums in a
Florida beach community that sold in the first six months of 2006, 75 of the 115 sampled
had been on the market less than 30 days. For the first six months of 2007, 25 of the 85
sampled had been on the market less than 30 days. Test the hypothesis that the proportion
of condominiums that sold within 30 days decreased from 2006 to $$\text { 2007. Use } \alpha = .01$$

---

Definitions:

Euros

The official currency used by 19 of the 27 European Union countries, known collectively as the Eurozone.

Importer

An individual, company, or entity that buys goods or services from a foreign country for sale within their own country.

Swiss Francs

Swiss Francs are the currency of Switzerland, known for their stability and regarded as a safe-haven currency in times of financial uncertainty.

Pound Sterling

The currency of the United Kingdom, commonly known as the pound and symbolized as £.