33. Daniel is planning to buy his first house. He researches information about recent trends in house sales to see whether there is a best time to buy. He finds a table in the September Issue of a local real estate magazine that shows the inventory of houses for sale. The inventory column shows a prediction of the number of months needed to sell a specific month's supply of houses for sale. The table also shows the median sales price for houses each month. Daniel wants to create a scatter plot of the data in the table to determine whether inventory affects median sales price. Which scatter plot will help Daniel make his determination?
Answer: A
A scatter plot showing inventory on the x-axis and median sales price on the y-axis will help Daniel determine the relationship between these two variables.
Creating a scatter plot where inventory is plotted against median sales price allows Daniel to visually assess any correlation between the amount of houses for sale and their selling prices.
A) M-12A.png
This scatter plot correctly places inventory on the x-axis and median sales price on the y-axis, which is essential for Daniel's analysis. By using this configuration, he can clearly see if changes in inventory correlate with changes in median sales price, which is his primary objective.
B) M-12B.png
In this scatter plot, the axes are likely arranged incorrectly, possibly with median sales price on the x-axis instead of inventory. This arrangement would hinder Daniel's ability to analyze the impact of inventory on sales price, thus not fulfilling his research needs.
C) M-12C.png
This plot may not effectively represent the relationship between inventory and median sales price, either by mislabeling the axes or by not including the relevant data points. Without the correct axes, Daniel cannot determine if there is a relationship between the two variables.
D) M-12D.png
Similar to the other incorrect options, this scatter plot might misrepresent the data by positioning the axes in a way that does not facilitate an analysis of how inventory affects median sales price. This would prevent Daniel from achieving his objective of understanding market trends.
Conclusion
Option A is definitively the right choice as it accurately depicts the relationship Daniel seeks to analyze, allowing him to explore how inventory impacts median sales price. All other options fail to provide the necessary configuration that would enable him to make an informed decision regarding his home purchase.