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Author Question: The National Association of Realtors estimates that 23 of all homes purchased in 2004 were ... (Read 59 times)

jake

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on: Jul 25, 2018
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 most 200 homes are going to be used as investment property?
  A) 0.5935 B) 0.9099 C) 0.0934 D) 0.4066

Question 2

Decide whether the experiment is a binomial experiment. If it is not, explain why. Survey 850 investors to see how many different stocks they own. The random variable represents the number of different stocks owned by each investor.
 
  What will be an ideal response?


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joewallace

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Reply #1 on: Jul 25, 2018
Answer to Question 1

B

Answer to Question 2

Not a binomial experiment. There are more than two outcomes.


jake

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Reply 2 on: Jul 25, 2018
Thanks for the timely response, appreciate it

amandalm

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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