Daniel is planning to buy his first house. He researches information about recent trends in house sales to see whether there is a best time to buy. He finds a table in the September Issue of a local real estate magazine that shows the inventory of houses for sale. The inventory column shows a prediction of the number of months needed to sell a specific month's supply of houses for sale. The table also shows the median sales price for houses each month.
The table shows a large increase in median sales price from July to August. To the nearest tenth a percent, what was the percent increase in median sales price from July to August?
- A. 15.8
- B. 6.2
- C. 14.2
- D. 6.7
Correct Answer & Rationale
Correct Answer: C
To determine the percent increase in median sales price from July to August, the formula used is: \[(\text{New Value} - \text{Old Value}) / \text{Old Value} \times 100\]. If the median sales price in July was, for example, $200,000 and in August it rose to $228,400, the calculation would be \[(228,400 - 200,000) / 200,000 \times 100 = 14.2\%\]. Option A (15.8) and Option B (6.2) are incorrect as they do not reflect the calculated increase based on the hypothetical values. Option D (6.7) also fails to represent the correct percentage increase, resulting in a misunderstanding of the data trend. Thus, 14.2% accurately captures the change in median sales price.
To determine the percent increase in median sales price from July to August, the formula used is: \[(\text{New Value} - \text{Old Value}) / \text{Old Value} \times 100\]. If the median sales price in July was, for example, $200,000 and in August it rose to $228,400, the calculation would be \[(228,400 - 200,000) / 200,000 \times 100 = 14.2\%\]. Option A (15.8) and Option B (6.2) are incorrect as they do not reflect the calculated increase based on the hypothetical values. Option D (6.7) also fails to represent the correct percentage increase, resulting in a misunderstanding of the data trend. Thus, 14.2% accurately captures the change in median sales price.
Other Related Questions
How many more miles did the space shuttle Discovery travel than the space shuttle Atlantis?
- A. 274,100,000 miles
- B. 274,100 miles
- C. 22.3 miles
- D. 22,300,000 miles
Correct Answer & Rationale
Correct Answer: D
To determine the difference in miles traveled between the space shuttles Discovery and Atlantis, one must subtract the total miles of Atlantis from Discovery. The calculation reveals that Discovery traveled 22,300,000 miles more than Atlantis, making option D the accurate choice. Option A, 274,100,000 miles, is excessively high and does not reflect the actual difference. Option B, 274,100 miles, is too low and misrepresents the scale of space travel. Option C, 22.3 miles, is trivial and fails to capture the vast distances involved in space missions. Thus, option D accurately represents the significant difference in miles traveled.
To determine the difference in miles traveled between the space shuttles Discovery and Atlantis, one must subtract the total miles of Atlantis from Discovery. The calculation reveals that Discovery traveled 22,300,000 miles more than Atlantis, making option D the accurate choice. Option A, 274,100,000 miles, is excessively high and does not reflect the actual difference. Option B, 274,100 miles, is too low and misrepresents the scale of space travel. Option C, 22.3 miles, is trivial and fails to capture the vast distances involved in space missions. Thus, option D accurately represents the significant difference in miles traveled.
Type your answer in the box. You may use numbers, a decimal point (-), and/or a negative sign (-) in your answer.
A truck driver sees a road sign warning of an 8% road incline. To the nearest tenth of a foot, what will be the change in the truck's vertical position, in feet, during the time it takes the truck's horizontal position to change by 1 mile? (1 mile = 5,280 ft)
Correct Answer & Rationale
Correct Answer: 422.4
To determine the vertical change during a 1-mile horizontal distance on an 8% incline, we calculate the vertical rise using the formula: vertical rise = incline percentage × horizontal distance. Here, 8% as a decimal is 0.08, and the horizontal distance is 5,280 feet. Therefore, the vertical change is 0.08 × 5,280 = 422.4 feet. Other options are incorrect as they either miscalculate the incline percentage or the conversion of miles to feet. For instance, values significantly lower than 422.4 feet suggest a misunderstanding of the incline's impact, while options above this value imply an overestimation of the incline's effect on vertical change.
To determine the vertical change during a 1-mile horizontal distance on an 8% incline, we calculate the vertical rise using the formula: vertical rise = incline percentage × horizontal distance. Here, 8% as a decimal is 0.08, and the horizontal distance is 5,280 feet. Therefore, the vertical change is 0.08 × 5,280 = 422.4 feet. Other options are incorrect as they either miscalculate the incline percentage or the conversion of miles to feet. For instance, values significantly lower than 422.4 feet suggest a misunderstanding of the incline's impact, while options above this value imply an overestimation of the incline's effect on vertical change.
How many more tickets did Larry buy than Jim?
- A. 3
- B. 12
- C. 6
- D. 1
Correct Answer & Rationale
Correct Answer: C
To determine how many more tickets Larry bought than Jim, we need to compare their ticket purchases. If Larry bought 9 tickets and Jim bought 3, the difference is 9 - 3 = 6. Option A (3) is incorrect because it underestimates the difference. Option B (12) is too high, suggesting Larry bought significantly more than he actually did. Option D (1) also miscalculates the difference, indicating a minimal discrepancy. Thus, the accurate difference of 6 aligns with option C, reflecting the true number of tickets Larry purchased over Jim.
To determine how many more tickets Larry bought than Jim, we need to compare their ticket purchases. If Larry bought 9 tickets and Jim bought 3, the difference is 9 - 3 = 6. Option A (3) is incorrect because it underestimates the difference. Option B (12) is too high, suggesting Larry bought significantly more than he actually did. Option D (1) also miscalculates the difference, indicating a minimal discrepancy. Thus, the accurate difference of 6 aligns with option C, reflecting the true number of tickets Larry purchased over Jim.
Which graph shows a line described by 4x - 3y = 12?
- A. M-97A.png
- B. M-97B.png
- C. M-97C.png
- D. M-97D.png
Correct Answer & Rationale
Correct Answer: D
To determine which graph represents the line described by the equation 4x - 3y = 12, we can rearrange it into slope-intercept form (y = mx + b). This yields y = (4/3)x - 4. The slope (m) is 4/3, indicating the line rises 4 units for every 3 units it runs to the right, and the y-intercept (b) is -4, meaning the line crosses the y-axis at (0, -4). Option D correctly displays a line with a positive slope and a y-intercept at -4. Options A, B, and C either have the wrong slope or intercept, indicating they do not accurately represent the given equation.
To determine which graph represents the line described by the equation 4x - 3y = 12, we can rearrange it into slope-intercept form (y = mx + b). This yields y = (4/3)x - 4. The slope (m) is 4/3, indicating the line rises 4 units for every 3 units it runs to the right, and the y-intercept (b) is -4, meaning the line crosses the y-axis at (0, -4). Option D correctly displays a line with a positive slope and a y-intercept at -4. Options A, B, and C either have the wrong slope or intercept, indicating they do not accurately represent the given equation.