The Mortgage Foreclosure Crisis That Preceded the Great Recession Impacted

question 127

Multiple Choice

The mortgage foreclosure crisis that preceded the Great Recession impacted the U.S. economy in many ways, but it also impacted the foreclosure process itself as community activists better learned how to delay foreclosure and lenders became more wary of filing faulty documentation. Suppose the duration of the eight most recent foreclosures filed in the city of Boston (from the beginning of foreclosure proceedings to the filing of the foreclosure deed, transferring the property) has been 230 days, 420 days, 340 days, 367 days, 295 days, 314 days, 385 days, and 311 days. Assume the duration is normally distributed. Construct a 90% confidence interval for the mean duration of the foreclosure process in Boston.

• A) [259.7400, 405.7600]
• B) [293.2229, 372.2771]
• C) [298.4296, 367.0704]
• D) [303.2282, 362.2718]

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Definitions:

Interpersonal Relationships

The strong, deep, or close associations or acquaintances between two or more people that may range in duration from brief to enduring.

Rosebuds

The young, unopened flowers of a rose plant, often symbolizing beauty, youth, or a beginning phase.

Allocating Rewards

The process of distributing benefits, compensations, or incentives among individuals or groups based on their performance, contribution, or needs.

Discriminate

The act of making unjust or prejudicial distinctions in the treatment of different categories of people, especially on the grounds of race, sex, or age.