00:01
Okay, so i see that you need help with this.
00:03
And a company mines 360 ,000 tons of coal per year in a rural country and a rural county.
00:10
The coal is worth 65 per ton.
00:13
The average price for a 2 ,000 square foot house with a three bedrooms is more than 20 k.
00:21
I'm sorry, 20 kilometers away from the mining site in this county is 220 ,000.
00:29
The average price for a similar 2 ,000 square foot house with a three -bedroom that's within four kilometers of the mine is 8 % lower.
00:37
Using the comparative statistics, what is the effect of mining on home prices? so first we need to find the value of the coal mined per year.
00:57
So you have 36 ,000, i'm sorry, 360 ,000 times 65 a tonne.
01:06
And that is $23 ,400 ,000.
01:14
So the coal mine per year is worth.
01:22
Next, we need to find the difference in the price between houses more than 20 kilometers away from the mining site and those within four kilometers of the mine...