A realtor has 25 similar properties to sell. Each month, the number she sells is binomially distributed with parameters n=number remaining to be sold and p=0.05. Let N be the number of months it takes to sell all 25 properties. By convention, let N=101 if at least one property is still not sold after 100 months. After running a simulation with at least
A realtor has 25 similar properties to sell. Each month, the number she sells is binomially distributed with parameters n=number remaining to be sold and p=0.05. Let N be the number of months it takes to sell all 25 properties. By convention, let N=101 if at least one property is still not sold after 100 months. After running a simulation with at least
MATLAB: An Introduction with Applications
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![A realtor has 25 similar properties to sell.
Each month, the number she sells is
binomially distributed with parameters
n=number remaining to be sold and
p=0.05. Let N be the number of months it
takes to sell all 25 properties. By
convention, let N=101 if at least one
property is still not sold after 100 months.
After running a simulation with at least
5,000 replications, what is the most realistic
conclusion about N?
a. The probability that N is greater
than 40 is around 0.89.
b. The probability that N equals
101 is around 0.14.
c. The probability that N is greater
than 50 is around 0.77.
d. The probability that N is less than
75 is around 0.69.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9c032157-7c51-4ae0-bf11-737222ac0370%2Faf95d464-c5db-4118-a015-ebae15cc9db9%2Ffkvk72s_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A realtor has 25 similar properties to sell.
Each month, the number she sells is
binomially distributed with parameters
n=number remaining to be sold and
p=0.05. Let N be the number of months it
takes to sell all 25 properties. By
convention, let N=101 if at least one
property is still not sold after 100 months.
After running a simulation with at least
5,000 replications, what is the most realistic
conclusion about N?
a. The probability that N is greater
than 40 is around 0.89.
b. The probability that N equals
101 is around 0.14.
c. The probability that N is greater
than 50 is around 0.77.
d. The probability that N is less than
75 is around 0.69.
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