Question

A real estate agent has 16 properties that she shows. She feels that there is a 50% chance of selling any one property during a week. The chance of selling any one property is independent of selling another property. Compute the probability of selling at least 5 properties in one week. Round your answer to four decimal places.

Answer 1

Binomial Distribution

n = 16

p = 0.50

q = 1- p = 0.5

P(X5) = 1 - [P(X=0) + P(X=1) + P(X=2) + P(X=3) + P(X=4)]

So,

P(X5) = 1 - 0.0384 = 0.9616

So

Answer is:

0.9616