Homework SoursePlease show your work and explain thank you If a selected ho
Please show your work and explain thank you!
If a selected home takes under 30 days or over 90 days to sell, what is the probability its initial asking price is under $200,000 or over $250,000?
| KEY | |
| Price1 = Under $150,000 | Days1 = Under 30 |
| Price2 = $150,000 - $199,999 | Days2 = 30 - 90 |
| Price3 = $200,000 - $250,000 | Days3 = Over 90 |
| Price4 = Over $250,000 | |
Solution
Case I: Takes < 30 days or >90 days
i.e. Price1or 3 or 4
Prob (A=price 1, or 3 or 4) = = 0.7325
Prob (B=<2 lacs or above 2.50 lacs) = P(price 1 2 or 4) = = 0.745
P(AB) = = 0.4775
P(B/A) = P(AB)/P(A) = = 0.6519
