Question

Let f(p) be the average number of days a house stays on the market before being sold to customers. If $(150) represents the average number of days houses stay on the market and houses sell for an average of $150,000, and stay on the market an average of 15 days, what is the average selling price of the houses?

a) $150,000
b) $150,500
c) $150,150
d) $150,015

Answer 1

The average selling price of the houses is $150,015.

Step-by-step explanation:

To find the average selling price of the houses, we need to determine the value of houses in relation to the average number of days they stay on the market. We are given that $(150) represents the average number of days houses stay on the market and houses sell for an average of $150,000, staying on the market for an average of 15 days.

Since the average number of days houses stay on the market is $(150), we can say that the ratio of 15 days to $(150) is equal to the ratio of the unknown average selling price to $150,000. We can set up a proportion to solve for the average selling price:

1. 15 days / $(150) = x / $150,000
2. Cross-multiply to get: 15 * $150,000 = $(150) * x
3. Divide both sides by $(150) to get: $150,000 * 15 / $(150) = x
4. Simplify: $150,000 * 15 / $(150) = 1500x / $(150) = 1000x

Therefore, the average selling price of the houses is $1000, which corresponds to option d) $150,015.