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? $$\begin{array} { l | c | c | c | c | c }
\text { Type of Property } & \text { Condos } & \text { Townhouses } & \text { Homes } & \text { Commercial } & \text { Land } \
\hline \text { Frequency } & 89 & 121 & 78 & 25 & 12
\end{array}$$
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? $$\begin{array} { l | c | c | c | c | c } 
\text { Type of Property } & \text { Condos } & \text { Townhouses } & \text { Homes } & \text { Commercial } & \text { Land } \
\hline \text { Frequency } & 89 & 121 & 78 & 25 & 12
\end{array}$$
A) Condos
B) Townhouses
C) Homes
D) Commercial
E) Land

Quizplus · Accepted Answer

The standardized residuals indicate how much each observed frequency deviates from the expected frequency. The largest standardized residual suggests the type of property that deviated most from the expected distribution. In this case, condos had the most significant deviation from the expected frequency based on historical data.

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