In many U.S. cities, there is fierce competition in the housing market. As a result, many accepted offers go over the list price of the home. According to Zillow, 23% of U.S, homebuyers paid more than the asking price in 2020. Suppose 20 U.S. home sales from 2020 are randomly selected. Round your answer to four decimal places as necessary.

Use the binomial probability distribution to find the probability fewer than 8 of the home sales went over the asking price.