A real estate company has been provided with a portfolio of town homes and single family homes at Tahoe Keys in California. The company surveys a nearby affluent town of 25,000 households to determine...

A real estate company has been provided with a portfolio of town homes and single family homes at Tahoe Keys in California. The company surveys a nearby affluent town of 25,000 households to determine which form of residence is preferred as a vacation home, so they can target their marketing accordingly. The company took a sample of 500 of these households. It turns out only 79 households preferred single family residences as a vacation home over town homes.