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In a tight real estate market , the probability that a buyer's offer will be accepted is 0.50 if she bids more than 15 thousand
In a tight real estate market , the probability that a buyer's offer will be accepted is 0.50 if she bids more than 15 thousand above the asking price. The probability of acceptance drops to 0.20 if she bids below this amount. Overall, sixty percent of offers are more than 15 thousand above the asking price. The probability that a randomly selected offer will be accepted by the seller is closest or equal to: O0.15 O0.38 0.20 0.32 O0.18
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