A real estate agency, located in a metropolitan area in the northeastern U.S., kept data on the various types of properties purchased in the area.Historically, 15% of purchases were for condominiums, 30% were for townhouses, 40% for single family homes, 10% for commercial properties and 5% for land.Based on the data shown below, the null hypothesis was rejected and the agency concluded that the current distribution of property sales differs from the historical distribution.Based on an examination of the standardized residuals, which type of property had the most impact on the test results?

A)Condos
B)Townhouses
C)Homes
D)Commercial
E)Land

Question

A real estate agency, located in a metropolitan area in the northeastern U.S., kept data on the various types of properties purchased in the area.Historically, 15% of purchases were for condominiums, 30% were for townhouses, 40% for single family homes, 10% for commercial properties and 5% for land.Based on the data shown below, the null hypothesis was rejected and the agency concluded that the current distribution of property sales differs from the historical distribution.Based on an examination of the standardized residuals, which type of property had the most impact on the test results?

A)Condos 
B)Townhouses 
C)Homes 
D)Commercial 
E)Land

Quizplus · Accepted Answer

The Answer of A real estate agency, located in a metropolitan area in the northeastern U.S., kept data on the various types of properties purchased in the area.Historically, 15% of purchases were for condominiums, 30% were for townhouses, 40% for single family homes, 10% for commercial properties and 5% for land.Based on the data shown below, the null hypothesis was rejected and the agency concluded that the current distribution of property sales differs from the historical distribution.Based on an examination of the standardized residuals, which type of property had the most impact on the test results?

A)Condos 
B)Townhouses 
C)Homes 
D)Commercial 
E)Land

A Real Estate Agency, Located in a Metropolitan Area in the Northeastern