A realtor has 25 similar properties to sell.Each month, the number she sells isbinomially distributed with parametersn=number remaining to be sold andp=0.05. Let N be the number of months ittakes to sell all 25 properties. Byconvention, let N=101 if at least oneproperty is still not sold after 100 months.After running a simulation with at least5,000 replications, what is the most realisticconclusion about N?a. The probability that N is greaterthan 40 is around 0.89.b. The probability that N equals101 is around 0.14.c. The probability that N is greaterthan 50 is around 0.77.d. The probability that N is less than75 is around 0.69.

A retailer has similar properties available for sale.Each month, the number of properties sold…

Answered: A realtor has 25 similar properties to…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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