The Foreclosure Crisis Has Been Particularly Devastating in Housing Markets

question 81

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 at least one foreclosure auction occurred in Boston on a randomly selected weekday of 2017?

• A) 0.0498
• B) 0.1494
• C) 0.8009
• D) 0.9502

---

Definitions:

Physiological Changes

Alterations in the body's normal biological function or structure that occur as a result of aging, disease, or environmental factors.

Naturalistic Observation Method

An investigative technique where individuals are watched in their natural surroundings without interference from the investigator.

Experimental Method

A research method involving the manipulation of variables to test hypotheses and determine cause-and-effect relationships in a controlled environment.

Psychometric Approach

A method in psychology focused on the measurement of mental functions, personality, and behavioural traits through standardized tests and assessments.