The sales records of a real estate agency show the following

The sales records of a real estate agency show the following sales over the past 200 days:

Number of Days

0

1

2

3

4

60

80

40

16

4

a. How many sample points are there?

b. Assign probabilities to the sample points and show their values.

c. What is the probability that the agency will not sell any houses in a given day?

d. What is the probabilty of selling at least 2 houses?

e. What is the probability of selling 1 or 2 houses?

f. What is the probability of selling less than 3 houses?

Numbers of Houses Sold	Number of Days
0 1 2 3 4	60 80 40 16 4

Solution

Numbers of Houses Sold Number of Days F(X) 0 60 0.3 1 80 0.4 2 40 0.2 3 16 0.08 4 4 0.02 a) 5 Sample Points c) It will not sell any Houses a day = 0.3 d) atleast 2 houses a day = 0.2+0.08+0.02 =0.3 e) 1 or 2 houses = 0.3+0.4 = 0.7 f) less than 3 = 0.3+0.4 +0.2 =0.9