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:

Incompatible Behaviors

Actions or responses that cannot coexist or are mutually exclusive in specific conditions.

Cooperative

An organizational model or strategy where participants work together towards a common goal, sharing resources and responsibilities.

Negative

Referring to something harmful, undesirable, or expressing a denial, disagreement, or refusal.

Destructive

Causing great and irreparable harm or damage either physically, emotionally, or environmentally.