The Mortgage Foreclosure Crisis That Preceded the Great Recession Impacted

question 68

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 99% confidence interval for the mean duration of the foreclosure process in Boston.

• A) [126.2730,539.2270]
• B) [259.7486,405.7514]
• C) [279.0056,386.4944]
• D) [291.8600,373.6400]

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Definitions:

Hydrogen Sulfide

A colorless, poisonous, flammable gas with the characteristic foul odor of rotten eggs; used in the manufacture of chemicals, in metallurgy, and as a fungicide and insecticide.

Lewis Structure

A graphical representation of molecules showing how valence electrons are distributed among atoms, and where dots and lines represent electrons and bonds, respectively.

Water

A molecule composed of two hydrogen atoms bonded to one oxygen atom, essential for all forms of life.

Helium

The second lightest and second most abundant element in the universe, a noble gas that remains liquid at the lowest temperatures.