SOLUTION: 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 inde
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Question 1185549: 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. Answer by ikleyn(52777) (Show Source):
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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
