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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____ 3. The probability of not selling any homes on Friday is______ 4. The probability of not selling any homes over the next 5 days is _____________ 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: 7. In a binomial distribution with sample size = 5 and probability of the event of interest = 0.30, P(X ≤ 5) = 8. In a binomial distribution with sample size = 5 and probability of the event of interest = 0.30, P(X = 5) = 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
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