Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Phil Dunphy, a real estate agent, is considering whether he should list an unusual $253,941 house for sale. If he lists it, he will need

Phil Dunphy, a real estate agent, is considering whether he should list an unusual $253,941 house for sale. If he lists it, he will need to spend $3,701 in advertising, staging, and fresh cookies. The current owner has given Phil 6 months to sell the house. If he sells it, he will receive a commission of $15,666. If he is unable to sell the house, he will lose the listing and his expenses. Phil estimates the probability of selling this house in 6 months to be 66%. What is the expected profit on this listing?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Numerical Solution Of Ordinary Differential Equations

Authors: L F Shampine

1st Edition

1351427547, 9781351427548

More Books

Students also viewed these Mathematics questions

Question

What is the financial outlook of the organization?

Answered: 1 week ago