Suppose 35% of Homes in a Miami, Florida, Neighborhood Are

question 101

Multiple Choice

Suppose 35% of homes in a Miami, Florida, neighborhood are under water (in other words, the amount due on the mortgage is larger than the value of the home) . There are 160 homes in the neighborhood and 30 of those homes are owned by your friends. What is the probability that fewer than 30% of your friends' homes are under water?

• A) 0.2627
• B) 0.2843
• C) 0.6400
• D) 0.7389

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Definitions:

Public Assistance

Government-provided support aimed at individuals or households with inadequate or no income.

Social Insurance

A government-sponsored program aimed at providing financial assistance to individuals in events of unemployment, disability, or old age.

National-Average Poverty Rates

The proportion of the population that lives below the poverty line, averaged across a nation, indicating the level of economic hardship and inequality.

Hispanics

A demographic group in the United States and other countries, often characterized by a heritage, language, or culture related to Spain or Spanish-speaking Latin American countries.