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.With changing demographics, the agency wondered if the current distribution matches the historical distribution.Recent data showed the following:

What is the standardized residual associated with Townhouses?
A)23.5
B)4.85
C)10.86
D)2.38
E)Not enough information given to calculate.

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.With changing demographics, the agency wondered if the current distribution matches the historical distribution.Recent data showed the following:

What is the standardized residual associated with Townhouses?

What is the standardized residual associated with Townhouses?
A)23.5 
B)4.85 
C)10.86 
D)2.38 
E)Not enough information given to calculate.

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.With changing demographics, the agency wondered if the current distribution matches the historical distribution.Recent data showed the following:

What is the standardized residual associated with Townhouses?
A)23.5 
B)4.85 
C)10.86 
D)2.38 
E)Not enough information given to calculate.

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