Question 2: From studying the local real estate market in the past few years, you observe that onaverage, it takes 120 days to sell a house (assume there are 360 working days in a year), and typicallythere are about 20 houses remain on sale in the market. What is the annual transaction number?

The local real estate market is a key indicator of economic activity in a particular area, and…

Answered: Question 2: From studying the local…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Question 2: From studying the local real estate market in the past few years, you observe that on average, it takes 120 days to sell a house (assume there are 360 working days in a year), and typically there are about 20 houses remain on sale in the market. What is the annual transaction number?