Practice EST2703 Exam 2

Practice EST2703 Exam 2 - Homes Sold 1 2 3 4 or more...

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Homes Sold Probability 1 0.02 2 0.005 3 0.001 4 or more 0.0003
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Given the Real Estate market in a western state, the probability of selling one or more homes on any given day is: 1. The probability of selling a home tomorrow is__________ A. 0.02 B. 0.0063 C. 0.0263 D. 0. 05 2. The probability of selling at least 3 homes on Sunday is____ A. 0.001 B. 0.0013 C. 0.0260 D. 0. 05 3. The probability of not selling any homes on Friday is______ A. 0.0260 B . 0.9737 C. 1.00 D. Cannot tell from the information provided 4. The probability of not selling any homes over the next 5 days is _____________ A. 0.0003 B. 0.0260 C. 0.8752 D. 0.9737 5. If the commission for selling a home is $10,000, what is your expected gain (loss) each day? (More than 4 homes have never been sold in one day) A. -$212 B. $0 C. $200 D. $342 6. In a binomial distribution with sample size = n and probability of the event of interest = π , The mean is: A. π *(1- π ) B. n * π C. n* π D. π * ( - ) 1 π 7. In a binomial distribution with sample size = 5 and probability of the event of interest = 0.30, P(X ≤ 5) = A. 0.0000 B. 0.0024 C. 0.3000 D . 1.0000 8. In a binomial distribution with sample size = 5 and probability of the event of interest = 0.30, P(X = 5) = A. 0.0000 B . 0.0024 C. 0.3000 D. 1.0000 9. In a binomial distribution with sample size = 5 and probability of the event of interest = 0.30, P(X = 7) = A . 0.0000 B. 0.0024 C. 0.3000 D. 1.0000 10. In a Poisson distribution the
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This note was uploaded on 09/11/2011 for the course TERM 1 taught by Professor Smith during the Spring '11 term at FIT.

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Practice EST2703 Exam 2 - Homes Sold 1 2 3 4 or more...

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