Provide an appropriate response. The National Association of Realtors estimates that 23% of all homes purchased in 2004 were considered investment properties. If a sample of 800 homes sold in 2004 is obtained what is the probability that at most 200 homes are going to be used as investment property?

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter8: Sequences, Series,and Probability
Section8.7: Probability
Problem 11ECP: A manufacturer has determined that a machine averages one faulty unit for every 500 it produces....
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Provide an appropriate response.
The National Association of Realtors estimates that 23% of all homes purchased in 2004
were considered investment properties. If a sample of 800 homes sold in 2004 is
obtained what is the probability that at most 200 homes are going to be used as
investment property?
Transcribed Image Text:Provide an appropriate response. The National Association of Realtors estimates that 23% of all homes purchased in 2004 were considered investment properties. If a sample of 800 homes sold in 2004 is obtained what is the probability that at most 200 homes are going to be used as investment property?
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