Scenario: Home builders are often trying to decide what types of homes to build based on...

Transcribed Image Text:

Scenario: Home builders are often trying to decide what types of homes to build based on what they expect to sell. The US Census Bureau classifies housing into three types - single family homes, multi-family residential (homes with 2 to 4 units), and multi-family commercial (complexes with more than 5 units). Below is a summary of the number of new housing permits issued in 2022 in four geographic areas of the United states. Use the table below to answer the questions. Make sure to show your computations and give your answers in full sentences with context from the scenario. Round your answer to four decimal places. Failure to show all computations or incorrect rounding may result in a score of "not mastered". Type of Home Northeast Midwest South West Total Single Family 532 1141 3173 1968 6814 Multi-Family Residential 37 62 224 138 A Multi-Family Commercial 707 826 3121 1043 5697 Total 1276 2029 6518 B C 1. Calculate the totals for the cells labeled A, B, and C in the table. 2. What is the probability that a randomly selected permit is to build housing in the Midwest? 3. What is the probability that a randomly selected permit is to build a Single Family or Multi-Family Residential unit? 4. What is the probability that a randomly selected permit is for a unit in the Midwest given that it is a permit to build a Single Family? 5. Which is more likely, that a randomly selected permit is to build a Single Family unit given that it is in the Midwest or that a randomly selected permit is a NOT in the Northeast region? Show all calculations that you use and provide an explanation as to why your final answer is the correct one. Scenario: Home builders are often trying to decide what types of homes to build based on what they expect to sell. The US Census Bureau classifies housing into three types - single family homes, multi-family residential (homes with 2 to 4 units), and multi-family commercial (complexes with more than 5 units). Below is a summary of the number of new housing permits issued in 2022 in four geographic areas of the United states. Use the table below to answer the questions. Make sure to show your computations and give your answers in full sentences with context from the scenario. Round your answer to four decimal places. Failure to show all computations or incorrect rounding may result in a score of "not mastered". Type of Home Northeast Midwest South West Total Single Family 532 1141 3173 1968 6814 Multi-Family Residential 37 62 224 138 A Multi-Family Commercial 707 826 3121 1043 5697 Total 1276 2029 6518 B C 1. Calculate the totals for the cells labeled A, B, and C in the table. 2. What is the probability that a randomly selected permit is to build housing in the Midwest? 3. What is the probability that a randomly selected permit is to build a Single Family or Multi-Family Residential unit? 4. What is the probability that a randomly selected permit is for a unit in the Midwest given that it is a permit to build a Single Family? 5. Which is more likely, that a randomly selected permit is to build a Single Family unit given that it is in the Midwest or that a randomly selected permit is a NOT in the Northeast region? Show all calculations that you use and provide an explanation as to why your final answer is the correct one.