Answer:
You can afford 34% of the houses.
Step-by-step explanation:
Interpretation of a percentile
When a value V is said to be in the xth percentile of a set, x% of the values in the set are lower than V and (100-x)% of the values in the set are higher than V.
In this problem:
The most expensive house you can afford is the 34th percentile. The 34th percentile of housing prices is $240,000.
Values higher than $240,000 are above the 34th percentile. So 66% of the houses are above $240,000.
Values lower than $240,000 are below the 34th percentile. So 34% of the houses are below $240,000.
Can you afford 34% of the houses or 66% of the houses?
You can afford houses of at most $240,000.
34% of those houses are at most $240,000.
So you can afford 34% of the houses.
