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Cooper Realty is a small real estate company located in Albany, New York, specializing primarily in residential listings. They recently became interested in determining the
Cooper Realty is a small real estate company located in Albany, New York, specializing primarily in residential listings. They recently became interested in determining the likelihood of one of their listings being sold within a certain number of days. An analysis of company sales of 800 homes in previous years produced the following data. Days Listed Until Sold Under 30 31 - 90 Over 90 Total Under $150,000 60 30 10 100 Initial Asking $150,000 - $199,999 20 140 80 240 Price $200,000 - $250,000 30 270 100 400 Over $250,000 10 40 10 60 Total 120 480 200 800 a. If A is dened as the event that a home is listed for more than 90 days before being sold, estimate the probability of A (to 2 decimals). b. If B is dened as the event that the initial asking price is under $150,000, estimate the probability of B (to 3 decimals). c. What is the probability of A 0 B (to 4 decimals)? d. Assuming that a contract was just signed to list a home with an initial asking price of less than $150,000, what is the probability that the home will take Cooper Realty more than 90 days to sell (to 2 decimals)? e. Are events A and B independent? - Select your answer - t
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