SOLUTION: The National Association of Realtors estimates that 23% of all homes purchased in 2004 were considered investment properties. If a sample of 800 homes sold in 2004 is obtained what

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Question 1053920: The National Association of Realtors estimates that 23% of all homes purchased in 2004 were considered investment properties. If a sample of 800 homes sold in 2004 is obtained what is the probability that at least 175 homes are going to be used as investment property?
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Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
P(x <= 175)
Est = .23
Sample: p = 175/800 = .219
z+=blue+%28x+-+mu%29%2Fsqrt%28blue%28p%281-p%29%2Fn%29%29
z+=blue+%28.219+-+.23%29%2Fsqrt%28%28blue%28.23%2A.77%29%2F800%29%29
Find z
P(x <= 175) = normalcdf(-100, z-value) -100 a placeholder