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dential listings. They recently became interested in determining the likelihood of one of their listin g sold within a certain number of days. An analysis of company sales of 840 homes in previous y luced the following data. Days Listed Until Sold Under 30 31 – 90 Over 90 Total Under $150,000 50 30 20 100 $150.000 100 000 20 160 270

dential listings. They recently became interested in determining the likelihood of one of their listin g sold within a certain number of days. An analysis of company sales of 840 homes in previous y luced the following data. Days Listed Until Sold Under 30 31 – 90 Over 90 Total Under $150,000 50 30 20 100 $150.000 100 000 20 160 270

MATLAB: An Introduction with Applications
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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Cooper Realty is a small real estate company located in Albany, New York, specializing primarily in residential listings. They recently became interested in determining the likelihood of one of their listings being sold within a certain number of days. An analysis of company sales of 840 homes in previous years produced the following data. Days Listed Until Sold Under 30 31 – 90 Over 90 Total Under $150,000 50 30 20 100 Initial Asking $150,000 – $199,999 20 160 90 270 Price $200,000 – $250,000 20 290 100 410 Over $250,000 10 40 10 60 Total 100 520 220 840 a. If A is defined as the event that a home is listed for more than 90 days before being sold, estimate the probability of A (to 2 decimals). b. If B is defined as the event that the initial asking price is under $150,000, estimate the probability of B (to 3 decimals). c. What is the probability of AnB (to 4 decimals)? d. Assuming that a contract was just signed to list a home with an initial asking price of less than $150,000, what is the probability that the home will take Cooper Realty more than 90 days to sell (to 2 decimals)? e. Are events A and B independent? Yes
Transcribed Image Text:Cooper Realty is a small real estate company located in Albany, New York, specializing primarily in residential listings. They recently became interested in determining the likelihood of one of their listings being sold within a certain number of days. An analysis of company sales of 840 homes in previous years produced the following data. Days Listed Until Sold Under 30 31 – 90 Over 90 Total Under $150,000 50 30 20 100 Initial Asking $150,000 – $199,999 20 160 90 270 Price $200,000 – $250,000 20 290 100 410 Over $250,000 10 40 10 60 Total 100 520 220 840 a. If A is defined as the event that a home is listed for more than 90 days before being sold, estimate the probability of A (to 2 decimals). b. If B is defined as the event that the initial asking price is under $150,000, estimate the probability of B (to 3 decimals). c. What is the probability of AnB (to 4 decimals)? d. Assuming that a contract was just signed to list a home with an initial asking price of less than $150,000, what is the probability that the home will take Cooper Realty more than 90 days to sell (to 2 decimals)? e. Are events A and B independent? Yes
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