The asking price (in thousands of dollars) of some four-bedroom homes in a certain city are described by the dotplot. Asking Prices of Four-Bedroom Homes Q 50 100 150 200 250 300 350 400 450 Thousands of dollars Complete parts (a) through (e). a. A buyer can afford to pay up to $350 thousand. Assuming sellers will not lower their asking prices, what proportion of the homes can the buyer afford? The proportion of homes that the buyer can afford is 0.939 (Round to the nearest thousandth as needed.) b. What proportion of the homes have asking prices between $150 thousand and $250 thousand? The proportion of homes with asking prices between $150 thousand and $250 thousand is. (Round to the nearest thousandth as needed.) a SIES Uhe Oamers are **aSI Iate Mthousand. d. It turns out that the two homes with asking prices you identified in part (c) also have square footages that are outliers. Why does this make sense? O A. This makes sense because houses with small square footages tend to have low asking prices. O B. This makes sense because houses with small square footages tend to have high asking prices. OC. This makes sense because houses with large square footages tend to have low asking prices. O D. This makes sense because houses with large square footages tend to have high asking prices.

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The concept of demand and supply is important for various factors. One of them is studying and evaluating the condition of an economy within a given period of time. The analysis or evaluation of the demand side factors are important for the suppliers to understand the consumer behavior. The evaluation of supply side factors is important for the consumers in order to understand that what kind of combination of goods or what kind of goods and services he or she should consume in order to maximize his utility and minimize the cost. Therefore, in microeconomics both of these concepts are extremely important in order to have an idea that what exactly is going on in the economy.