1. ## Probability

The probability of a property being sold by a sole agent in the first week of listing is 20%. In a random sample of eight properties listed by a single real estate agent.
a) What is the probability that none sell in the first week?
b) What is the probability that at least one sells in the first week?
c) What is the probability that all sell in the first week?

2. assuming these events are independent, the probably of both A and B occuring P(AnB) = P(A)*P(B)

whats the probability that 1 property doesnt sell? .8, which is the same for all 8 properties

so to start, you want .8^8 as the probability none sell..

ill let you try and think about the next ones

3. I'm still not sure how to solve this.

4. Here's what I know.

The probability that the property will sell in the first week is 20%..........
so 100% minus 20% is 80%.

so there is an 80% chance that the property will not sell in the first week

5. Yes but this is from a binomial topic where we've had to look at tables and find percentages ie between 0.000 and 1.000?

6. so 8% is also .08

7. lol i don't think that's right. Nevermind.

8. oh well....sorry

I thought I was right

LOL

9. Originally Posted by brumby_3
The probability of a property being sold by a sole agent in the first week of listing is 20%. In a random sample of eight properties listed by a single real estate agent.
a) What is the probability that none sell in the first week?
b) What is the probability that at least one sells in the first week?
c) What is the probability that all sell in the first week?

Let X be the random variable number of properties that sell in the first week.

X ~ Binomial(p = 0.2, n = 8).

Calculate:

(a) Pr(X = 0)

(b) 1 - Pr(X = 0).

(c) Pr(X = 8).

I'm assuming you can calculate binomial probabilities .....