Question

A real estate agent is interested in whether there are differences in home ownership. A researcher...

A real estate agent is interested in whether there are differences in home ownership. A researcher samples 30 adults and ask whether they own or rent their home and got the following results:

12 own

18 rent

Math   Statistics-And-Probability   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Dear student, you haven't mentioned what you are asking for. Here, I am calculating some probabilities, I hope that will be helpful for you. In case of any doubt, please comment on it, I would love to clarify it.

30 Adults were sampled and it was found that 12 were own and 18 were on rent.

Probability of an Event =  Number of favorable Outcomes / Total Number of Possible Outcomes

Probability of selecting an adult who owns his home(whose homeownership is own) = Total no of own home / total home

P(own) = 12/30

In a similar way, P(rent) = 18/30

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Sally enters into an agreement to have Michael, a real estate agent, sell her home for...
Sally enters into an agreement to have Michael, a real estate agent, sell her home for $300,000. Michael gets an offer from a potential buyer for $280,000, but doesn’t bother telling Sally about it because he thinks it is too low. Sally finds out later and she is furious. She wants to know—did Michael do anything wrong?
2: A real estate agent is interested in what factors determine the selling price of homes...
2: A real estate agent is interested in what factors determine the selling price of homes in Northwest Arkansas. She takes a random sample of 20 homes, and conducts a multiple regression analysis. The dependent variable is price of the home (in thousands of dollars), the square footage of the home, and whether the home is located in a new subdivision (0 = no; 1 = yes). The results of the multiple regression analysis are shown below. Answer the following...
Pat is the manager of a real estate group that is part of a larger real...
Pat is the manager of a real estate group that is part of a larger real estate company. Here are the total number of home sales from 2019 for all the agents at the entire company. 15 20 3 5 6 8 9 10 10 4 5 6 9 4 3 14 2 5 8 Pat wants to know if her own real estate group, which has 4 agents (the sample, in this case), has sold more homes than the...
Lisa Conway worked as a real estate agent for Avis Reality for 12 years. Her annual...
Lisa Conway worked as a real estate agent for Avis Reality for 12 years. Her annual income is approximately $120,000 per year. Lisa is considering establishing her own real estate agency. She expects to generate revenues during the first year of $3 million. Salaries paid to her employees are expected to total $2 million. Operating expenses (i.e., rent, supplies, utility services) are expected to total $300,000. To begin the business, Lisa must borrow $550,000 from his bank at an interest...
A real estate agent compares the selling prices of homes in two suburbs of Seattle to...
A real estate agent compares the selling prices of homes in two suburbs of Seattle to see whether there is a significant difference in price. The results of the study are shown below. Suburb 1 Suburb 2 x¯ $63,255 $60,102 s $5,602 $4,731 n 35 40 1. Find the p-value for the test and round to 4 significant decimal places. 2. Find the 99% confidence interval for the difference in means. Put your answers in (a, b) form and round...
An agent for a residential real estate company in a large city has the business objective...
An agent for a residential real estate company in a large city has the business objective of developing more accurate estimates of the monthly rental cost for apartments. Toward that goal, the agent would like to use the size of an apartment, as defined by square footage to predict the monthly rental cost. The agent selects a sample of 25 apartments in a particular residential neighborhood and collects the following data: Size (square feet) Rent ($) 850, 1950 1450, 2600...
A real estate company is interested in testing whether, on average, families in Gotham have been...
A real estate company is interested in testing whether, on average, families in Gotham have been living in their current homes for less time than families in Metropolis have. Assume that the two population variances are equal. A random sample of 100 families from Gotham and a random sample of 150 families in Metropolis yield the following data on length of residence in current homes. Gotham: G = 35 months, sG2 = 900 Metropolis: M = 50 months, sM2 =...
Mary is interested in real and estate and wants to work for a local government, what...
Mary is interested in real and estate and wants to work for a local government, what would be her ideal career? Select one: a. Land use planner b. Real estate attorney c. Property manager d. Real estate agent ------ Rights included in a fee simple estate do NOT normally include: Select one: a. The right to dump in the river behind your house b. The right to lease the property c. The right to decide who will inherit the property...
1)A real estate agent is interested in determining factors that affect the mean selling price of...
1)A real estate agent is interested in determining factors that affect the mean selling price of a home. One factor she is considering is known as "lot configuration," which determines the position of the house within the neighborhood that it is built. The possible lot configurations are (don't worry about their precise definitions):        Inside:        Inside lot        Corner:       Corner lot        CulDSac     Cul-de-sac        FR2:           Frontage on 2 sides of property        FR3:           Frontage on 3 sides of property Suppose that she were to perform an ANOVA to examine...
Mickey and Minnie Home Sales, an Orange County real estate company, wants to know if there...
Mickey and Minnie Home Sales, an Orange County real estate company, wants to know if there is a relationship between the price a home sells for and weeks the home was on the market prior to the sale. Mickey and Minnie conjecture that the higher the price of the home, the longer the house will be on the market. They select a simple random sample of 31 recently sold homes in Anaheim for analysis and they want to know if...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT