Posted by Anonymous on Tuesday, March 26, 2013 at 10:38pm.
About 24% of all homes purchased on 2004 were considered investment properties. a random sample of 800 homes sold in 2004 is obtained. What is the probability that at most 200 homes are used as an investment property?

statistics  MathGuru, Wednesday, March 27, 2013 at 7:59pm
Mean = np = 800 * .24 = ?
Standard deviation = √npq = √(800)(.24)(.76) = ?
Note: q = 1  p
Use zscores:
z = (x  mean)/sd
x = 200
Use a ztable to determine the probability. Remember the question is asking "at most 200" when looking at the table.
I'll let you finish the calculations.

statistics  me, Saturday, March 30, 2013 at 10:36pm
I get either 0.9099, 0.9103, or 0.9106
Answer This Question
Related Questions
 statistics  The National Association of Realtors estimates that 23% of all ...
 statistics help  The National Association of Realtors estimates that 23% of all...
 statistics  23 percent of all homes purchased were investments 800 homes were ...
 Engineering  We estimate that today c.89% of homes can readily get a 2Mbps (or ...
 Psychology Statistics  Determine whether the numerical value is a parameter or ...
 statistics  The average price for new mobile homes is known to be distributed ...
 statistics  According to the local real estate board, the average number of ...
 Statistics  Six homes are randomly surveyed from a group of fifteen homes. How ...
 Basic Statistics  The Suva Energy Information Administration reported that 51.7...
 statistics  78% of us homes have a telephone. In a random sample 250 homes, ...
More Related Questions