The Foreclosure Crisis Has Been Particularly Devastating in Housing Markets

question 60

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 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.What is the probability that no more than two foreclosure auctions occurred on a randomly selected weekday of 2011 in Boston?

• A) 0.1991
• B) 0.2240
• C) 0.4232
• D) 0.5768

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Definitions:

Dramaturgical Concepts

Ideas from the dramaturgical perspective in sociology, which analyzes social life as a series of performances, where individuals present themselves in ways that will be accepted by others.

Ervin Goffman

An influential sociologist known for his work on symbolic interactionism and the study of social interaction in everyday life.

Demeanor

The outward behavior or bearing of a person, indicating their character or mood.

Dramaturgical Concepts

Ideas from dramaturgy, a perspective in sociology that likens social interaction to theatre, where individuals present themselves in ways that will be accepted by others.