The table below contains the average price paid for a new home in a certain area from 2000 to 2010.
a. Construct a time-series plot of new home prices.
b. What pattern, if any, is present in the data?
Year
Average Price
($ thousands)
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
342.3
325.6
317.8
268.9
218.9
192.5
156.9
199.1
207.3
249.4
261.2
a. Construct a time-series plot of new home prices. Choose the correct graph below.
OA.
140
2000 2005 2010
Yea
Q
Q
О в.
Price ($ thousands)
MM
300-
220-
140
2000 2005 2010
Year
Oc.
OD.
Q
Q
380-
380-
300-
Q
Q
220-
220
140
140
2000 2005 2010
2000 2005 2010
Year