Question

1.The Standard​ & Poor's/Case-Shiller Home Price Index is one of the leading indicators of housing price trends in the United States. The base year for the index is January 2000. The following table lists index numbers for May 2016 and  May 2017 for five cities.

City	May 2017	May 2016
New York	190.1	182.2
Miami	223.3	212.2
Phoenix	168.6	159.5
Dallas	175.6	162.9
San Diego	238.6	223.9

​*Real-time data provided by Federal Reserve Economic Data​ (FRED), Federal Reserve Bank of Saint Louis.

Calculate the percentage changes in the price indices fromMay 2016 to May 2017 for the following cities ​(enter all values as percentages rounded to one decimal place and include a minus sign if ​necessary)​:

New​ York:	__%
​Miami:	__%
​Phoenix:__	%
​Dallas:	__%
San​ Diego:	__%

The prices of homes changed the most during this year in:

A. New York.

B. Phoenix

C. Miami

D. San Diego

Based on these​ numbers, can you determine which city had the most expensive homes in August 2017​?

A. Phoenix

B. New York

C. It is not possible to determine this with the information provided.

D. Miami

Answer 1

		PRICE	PRICE	PRICE	PERCENTAGE
		May-16	May-17	INDEX	INCREASE IN PRICE
		Base year
NEW YORK		182.2	190.1	104.34	4.34
MIAMI		212.2	223.3	105.23	5.23
PHOENIX		159.5	168.6	105.71	5.71
DALLAS		162.9	175.6	107.8	7.8
SAN DIEGO		223.9	238.6	106.57	6.57
Price index: Price of May 2017 / Price of May 2016 *100
Percentage increasse = Price index of each city -100
Req1: Percentage change in Prices is as follows:
		Percentage change
NEW YORK		4.34%
MIAMI		5.23%
PHOENIX		5.71%
DALLAS		7.80%
SAN DIEGO		6.57%
Req2: The prices of homes changed the most during the year in:
d. San diego
Req3: the city which have the most expensive homes in August 2017:
C. It is not possible to determine this with the information available.