The Number of Days That Homes Stay on the Market

question 113

Multiple Choice

The number of days that homes stay on the market before they sell in Seattle is bell-shaped with a mean equal to 8 days. Further, 95 percent of all homes are on the market between 2 and 14 days. Based on this information, what is the standard deviation for the number of days that houses stay on the market in Seattle?

• A) 12
• C) 9
• D) 3

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Definitions:

Tenant-Days

A measure used in property management to calculate the number of days a property is occupied by tenants over a certain period.

Administrative Expenses

Overheads and expenses associated with the general operation of a business.

Client-Visits

Refers to the occasions on which a service provider or salesperson visits clients at their location to build relationships, offer support, or close sales.

Planning Budget

A budget designed for a particular level of activity, often used for planning and forecasting purposes.