(a)
To calculate:To find the percent of change in the homes sold and round to the nearest tenth
(a)
Answer to Problem 7.7MPS
Percent of change in homes sold is
Explanation of Solution
Given information:The figure for home sales for
Formula used:
Percent of change is calculated as
Calculation:
Number of homes sold in 2013
Number of homes sold in 2014
Percent of change is calculated as
Conclusion:
Hence, percent of change in homes sold is
(b)
To calculate:To find the percent of change in the average selling price and round to the nearest tenth
(b)
Answer to Problem 7.7MPS
Percent of change in the average selling price sold is
Explanation of Solution
Given information:The figure for home sales for
Formula used:
Percent of change is calculated as
Calculation:
Average selling price in 2013
Average selling price in 2014
Percent of change is calculated as
Conclusion:
Hence, percent of change in the average selling price sold is
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