Question

A real estate agent has 18 properties that she shows. She feels that there is a 40% 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 no more than 3 properties in one week. Round your answer to four decimal places.

Answer 1

Answer:

Probability of selling no more than 3 properties in one week is 42%

Step-by-step explanation:

With 18 properties to sell and 40% chance of selling any one, it means that she can sell 7.2 properties (18 x 40%) in a week.

To sell no more than 3 properties in one week, the probability will be 3/7.2 x 100 = 0.4167

Probability is the chance of one event taking place out of many events.  It is calculated as the number of the one event taking place divided by the total number of events.  It is expressed in decimal or percentage form.