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A real estate agent has 17 properties that she shows. She feels that there is a 30% chance of selling any one property during a week.
The chance of selling any one property is independent of selling another property.
Compute the probability of selling more than 5 properties in one week. Round your answer to four decimal places.
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It is a binomial distribution probability problem.
- number of trials n = 17;
- number of success trials k > 5;
- Probability of success on a single trial p = 0.3.
We need calculate P(n=17; k > 5; p=0.3).
To facilitate calculations, I use an appropriate online (free of charge) calculator at this web-site
https://stattrek.com/online-calculator/binomial.aspx
It provides nice instructions and a convenient input and output for all relevant options/cases.
P(n=17; k > 5; p=0.3) = 0.40318113591, or 0.4032 (rounded). ANSWER
Solved.
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If you want to see many similar (or different) solved problems, look into the lessons
- Simple and simplest probability problems on Binomial distribution
- Typical binomial distribution probability problems
- How to calculate Binomial probabilities with Technology (using MS Excel)
- Solving problems on Binomial distribution with Technology (using MS Excel)
- Solving problems on Binomial distribution with Technology (using online solver)
in this site.
After reading these lessons, you will be able to solve such problems on your own,
which is your PRIMARY MAJOR GOAL visiting this forum (I believe).