When a homeowner wants to sell his or her home, the property is typically posted on a
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Question:
When a homeowner wants to sell his or her home, the property is typically posted on a regional listing service. In a particular region, 70% of the new properties added to the listing service in an average week are ``houses''. The remaining 30% of new listings added are ``condominiums''. The average house listed on the service stays there for 6 weeks, before it is either sold or the listing taken out for other reasons. The average condominium stays listed for 3 weeks.
What percent of active property listings on the service (i.e., properties posted on the listing service but not yet removed) are condominiums?
Related Book For
Advanced Financial Accounting
ISBN: 978-0137030385
6th edition
Authors: Thomas Beechy, Umashanker Trivedi, Kenneth MacAulay
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