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Math Help - Probability

  1. #1
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    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?

    Thanks in advance.
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  2. #2
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    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
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  3. #3
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    I'm still not sure how to solve this.
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  4. #4
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    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
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  5. #5
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    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?
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  6. #6
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    so 8% is also .08
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  7. #7
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    lol i don't think that's right. Nevermind.
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  8. #8
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    oh well....sorry

    I thought I was right

    LOL
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  9. #9
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    Quote Originally Posted by brumby_3 View Post
    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?

    Thanks in advance.
    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 .....
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