The Board of Realtors of a small city reports that 80% of the houses that are sold have
been on the market for more than 6 months. The Board takes a random sample of 15
homes that have recently been sold and counts the number that were on the market for
more than 6 months. What is the Probability that of 15 homes in the sample:
a. less than 12 have been on the market for more than 6 months?
b. between 8 and 13 have been on the market for more than 6 months?
c. at least 10 homes have been on the market for more than 6 months?
d. at most 4 have been on the market for more than 6 months?
Statistical Math?
note:
binomial distribution: P(x=k) = 15Ck (0.8)^k (0.2)^(15-k)
this is the probability that k of the houses have been on the market for more than 6 months.
a. 1 - P(x=12) - P(x=13) - P(x=14) - P(x=15)
b. P(x=8) + P(x=9) + P(x=10) + P(x=11) + P(x=12) + P(x=13)
c. P(x=10) + P(x=11) + P(x=12) + P(x=13) + P(x=14) + P(x=15)
d. P(x=0) + P(x=1) + P(x=2) + P(x=3) + P(x=4)
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