Question

1. An apartment building has 20 two-bedroom apartments and 8 three-bedroom apartments. If 4 apartments are...

1. An apartment building has 20 two-bedroom apartments and 8 three-bedroom apartments. If 4 apartments are chosen at random to be redecorated, what are the probabilities that a) All will be two-bedroom apartments ? (b) 2 will be two-bedroom apartments and 2 will be three-bedroom apartments ?

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
A real estate developer is planning to build an apartment building specifically for grduate students on...
A real estate developer is planning to build an apartment building specifically for grduate students on a parcel of land adjacent to a major university. 4 types of apartment can be included in the building : efficiencies(E), one bedroom(A), two-bedrrom(B), and three bedroom(C) units. each efficiency requires 700 square feet, each one-bedroom apartment 900 square feet, each two bedroom apartment 1100 square feet, and each three bedroom apartment 1300 square feet. The developer believes that the building should include no...
The average monthly rental for a 2-bedroom apartment in Austin is $950. Assume that the population...
The average monthly rental for a 2-bedroom apartment in Austin is $950. Assume that the population mean is $950 and the population standard deviation is $200. 1. What is the probability that a simple random sample of 50 2-bedroom apartments will provide a sample mean monthly rental within +/- $100 of the population mean?? 2. What is the probability that a simple random sample of 50 2-bedroom apartments will provide a sample mean monthly rental within +/- $25 of the...
Marginal Revenue for an Apartment Complex Lynbrook West, an apartment complex, has 100 two-bedroom units. The...
Marginal Revenue for an Apartment Complex Lynbrook West, an apartment complex, has 100 two-bedroom units. The monthly profit (in dollars) realized from renting x apartments is represented by the following function. P(x) = -9x2 + 1520x - 52000 (a) What is the actual profit realized from renting the 41st unit, assuming that 40 units have already been rented? $ (b) Compute the marginal profit when x = 40 and compare your results with that obtained in part (a). $
You have a building with 8 apartments. The construction cost of the building is 4 million...
You have a building with 8 apartments. The construction cost of the building is 4 million QAR. The annual rent for each is 150,000 QAR/year. You rent the apartments using 7 years’ contracts. a. If all your customers deposit the rental amounts in the bank over the 7 years of their contracts, and that banks reward deposits with 6% annually, what is the amount you will find at maturity? b. What’s the present value of all the contracts? c. If...
Alex, who is risk-neutral, is looking for an one-bedroom apartment to rent for the month of...
Alex, who is risk-neutral, is looking for an one-bedroom apartment to rent for the month of August while he's on vacation in Seattle. All of the one-bedroom apartments in the neighborhood where he wants to stay are of equal quality, but 70 percent rent for $700 per month, 20 percent rent for $600 per month, and 10 percent rent for $500 per month. The first apartment Alex finds rents for $700 per month. If the cost to Alex of searching...
Highsmith Rental Company purchased an apartment building early in 2021. There are 20 apartments in the...
Highsmith Rental Company purchased an apartment building early in 2021. There are 20 apartments in the building and each is furnished with major kitchen appliances. The company has decided to use the group depreciation method for the appliances. The following data are available: Appliance Cost Residual Value Service Life (in Years) Stoves $ 23,000 $ 5,000 6 Refrigerators 18,000 5,000 5 Dishwashers 16,000 4,000 4 In 2024, five new refrigerators costing $3,100 were purchased for cash. In that same year,...
You plan to break ground for a new building that has 30 2-bedroom apartments. The new...
You plan to break ground for a new building that has 30 2-bedroom apartments. The new building will cost $12,000000 including renovations that would last a year (i.e., you would not have a tenant for a year. The interest rate for commercial loan is 5% per annum. You would pay the money upfront making $0 down payment. You are taking a 30-year loan with no balloon payment. The loan is estimated to being in January 2020 when you expect to...
An investor is interested in purchasing an apartment building containing six apartments. The current owner provides...
An investor is interested in purchasing an apartment building containing six apartments. The current owner provides the following probability distribution indicating the probability that the given number of apartments will be rented during a given month. Number of Rented Apartments 0 1 2 3 4 5 6 Probability 7⁄36 1⁄18 1⁄9 1⁄4 1⁄12 5⁄18 1⁄36 Find the number of apartments the investor could expect to be rented during a given month. (Hint: Find the expected value.) a) 2.9667 b) 2.9167...
4) If the rental market for a two bed room apartment in Edison has a equilibrium...
4) If the rental market for a two bed room apartment in Edison has a equilibrium price $3000 and the equilibrium quantity 200units and Phil Murphy passes a law that mandates property owners to rent out their 2 bedroom apartments for $2500, explain what type of policy Murphy implemented impact this will have on the market. (i.e price floor or price ceiling) Hint Draw the graph and explain in detail this markets the rental market will have
On July 8, 2019, Holly purchased a residential apartment building. The cost basis assigned to the...
On July 8, 2019, Holly purchased a residential apartment building. The cost basis assigned to the building is $243,700. Holly also owns another residential apartment building that she purchased on July 15, 2019, with a cost basis of $420,000. If required, round intermediate calculations and final answers to nearest dollar. a. Calculate Holly's total depreciation deduction for the apartments for 2019 using MACRS. b. Calculate Holly's total depreciation deduction for the apartments for 2020 using MACRS.