Below are the median prices of homes sold in 2009, by region of the country.
South 158,300
Northeast 248,800
Midwest 139,500
West 243,200
U.S. 180,100
The median selling price of a home in the South was approximately what fraction of the median selling price of a home in the West? (Round the median selling prices to the nearest ten thousand.)
160,000 / 240,000 = 0.66667 = 66.7%
To find the fraction of the median selling price of a home in the South compared to the median selling price of a home in the West, we need to calculate the ratio of the two values.
First, let's round the median selling prices to the nearest ten thousand:
- South: $158,300 rounds to $160,000
- West: $243,200 rounds to $240,000
Now, let's calculate the fraction:
Fraction = South median selling price / West median selling price
Fraction = $160,000 / $240,000
To simplify the fraction, we can divide both the numerator and denominator by 10,000:
Fraction = (160,000 / 10,000) / (240,000 / 10,000)
Fraction = 16 / 24
Further simplifying the fraction, we can divide both the numerator and denominator by their greatest common divisor, which is 8:
Fraction = (16 / 8) / (24 / 8)
Fraction = 2 / 3
Therefore, the median selling price of a home in the South was approximately 2/3 of the median selling price of a home in the West.