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?
