Exhibit 5-14

question 116

Multiple Choice

Exhibit 5-14.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 2011 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 2005. Refer to Exhibit 5-14.What is the probability that exactly 10 foreclosure auctions occurred during a randomly selected five-day week in 2011 in Boston?

• A)0.0008
• B)0.0486
• C)0.1185
• D)0.9514

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Definitions:

Commitment

A pledge or promise to do something, often requiring dedication and perseverance, in personal or professional contexts.

Preconventional Level

A stage in Kohlberg's theory of moral development, where an individual's moral reasoning is based primarily on the consequences of actions and on receiving rewards or avoiding punishment.

Moral Development

The method by which people cultivate appropriate attitudes and actions towards others in a community, in accordance with social and cultural standards, regulations, and legislation.

Prosocial Behavior

Behavior that is intended to benefit others, including acts of kindness, generosity, and cooperation.