Question

A house hunter on Long Island estimates that 20% of the available houses in her price range are in acceptable condition. Furthermore, she has time to look at only one house each week. What is the probability that she will find an acceptable house in the first two weeks that she looks (round off to second decimal place)?

Answer 1

Answer:

36% probability that she will find an acceptable house in the first two weeks that she looks.

Step-by-step explanation:

For each house, there is a 20% probability of it being acceptable. And a 100-20 = 80% of not being acceptable

What is the probability that she will find an acceptable house in the first two weeks that she looks (round off to second decimal place)?

She only looks one house a week.

So this is the same as the probability of taking two or less weeks to find a house.

The are two outcomes

Finding an acceptable house in the first week, with 20% probability

Not finding an acceptable house in the first week, with 80% probability, and then finding an acceptable house in the second week, with 20% probability.

Probability:

$P = 0.2 + 0.8*0.2 = 0.36$

36% probability that she will find an acceptable house in the first two weeks that she looks.