The amount of income spent on housing is an important component of the cost of living. The
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The amount of income spent on housing is an important component of the cost of living. The total costs of housing for homeowners might include mortgage payments, property taxes, and utility costs (water, heat, electricity). An economist selected a sample of20 homeowners in New England and then calculated these total housing costs as a percent of monthly income, 5 years ago and now. The information is reported below. Is it reason-able to conclude the percent is less now than 5 yearsago?
Transcribed Image Text:
Homeowner Five Years Ago Now Homeowner Five Years Ago Now 35% 39 37 27 12 13 15 17 18 4 10 20
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Related Book For
Statistical Techniques in Business and Economics
ISBN: 978-0078020520
16th edition
Authors: Douglas Lind, William Marchal
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