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1. Using a visual inspection of the data on the prices and quantities for houses in the UK, what basic deductions can you make about the UK housing market generally? [10 marks]

Answer :

Final answer:

A visual inspection of UK housing market data can reveal trends in house prices over time, distribution of prices across regions, and the relationship between prices and quantities.

Explanation:

A visual inspection of the data on the price and quantities for houses in the UK can provide several basic deductions about the UK housing market generally. Firstly, the data can reveal trends in house prices over time, indicating whether the market is experiencing growth or decline. Secondly, it can show the distribution of house prices across different regions, highlighting areas of higher or lower demand. Lastly, it can provide insights into the relationship between house prices and quantities, helping to understand the supply and demand dynamics within the market.

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