The Foreclosure Crisis Has Been Particularly Devastating in Housing Markets

question 85

Multiple Choice

The foreclosure crisis has been particularly devastating in housing markets in much of the south and west United States, but even when analysis is restricted to relatively strong housing markets the numbers are staggering. For example, in 2017 an average of three residential properties were auctioned off each weekday in the city of Boston, up from an average of one per week in 2011. What is the probability that exactly four foreclosure auctions occurred on a randomly selected weekday of 2017 in Boston?

• A) 0.1680
• B) 0.1954
• C) 0.2240
• D) 0.8153

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Definitions:

Organizational Changes

The processes through which a company or business alters its structures, strategies, operational methods, technologies, or organizational culture.

Incongruence

A state of discrepancy or lack of harmony between two or more elements, such as beliefs, behaviors, or attitudes.

Psychological Contract

A non-documented agreement of anticipated responsibilities and advantages shared between a worker and their employer.

Unrealistically High

Pertains to expectations or goals that are set far beyond achievable standards, often leading to disappointment or failure.