Answer:
Part a
First option
Increase from around $160,000 to around $245000 about a 53% increase
Part b
The prices increased from $220,000 to $245,000
Part c
The prices decreased from $245,000 to $215,000 . This is about a 12% decrease (actual value is 12.24%)
Explanation:
a. From the graph (or looking at the answer choices) we see that in 1999 the median housing price was $160,000
In 2007, we see that the median housing price was approx $245,000. We can eliminate the second and third choices since in 2007, the median price was definitely greater than $220,000
Hence the correct answer choice is the first option
Part b
From what I can see of the graph(kinda difficult) the median house price was $220,000 in 2004(the point being halfway between 210,000 and 230,000
The median price in 2007 from the information provided in Part a was $245,000
Increase in median price between 2004 and 2007 is 245,000 - 220,000 = $25,000
As a percentage relative to 2004 price this would be
25,000/220,000 x 100
= 11.36 % which I guess, if you rounded up would be 12%
So I am not a 100% sure on this but this is what I can read from the graph
Answer: The prices increased from $220,000 to $245,000
(c) Price for 2007 from part (a) $245,000
Price for 2009 from graph = $215,000
Price decrease = 215,000 - 245,000 = -30,000 (negative indicating a decrease)
Price decrease from 2007 to 2009 as a percentage of 2007 prices:
30,000/215,000 x 100 = 12.24 %which i guess you can round down to 12% or round up to 13% - again not sure.
Answer should be:
The prices decreased from $245,000 to $215,000 . This is about a 12% decrease