For a number of years the Washington real estate market has been booming with pr

Question

For a number of years the Washington real estate market has been booming with prices skyrocketing. Recently the Washington Real Estate Commission studied the sales pattern for single-family homes. In the table below the probability distribution is shown of the number of days a home is on the market: Calculate: The expected value of the number days a home is on the market The variance of the number days a home is on the market The standard deviation of the number days a home is on the market There are five daily trains from Goteborg to Malmo. Suppose that the probability that a train arrives late equals 0.1. What is the probability that at least 1 train arrives late? Select the correct answer from the choices below (put a circle around your choice). The answers are rounded off to the first two decimals. (Do not supply calculations).

Explanation / Answer

9) we are given with 5 trains

and train get late by probability = 0.1

we need to calculate the probability of at least one train getting late = 1 - no train getting late

probability of no train getting late = 5C0*(0.1)^0*(0.9)^5= 0.590

HENCE PROBABILITY AT LEAST ONE TRAIN WILL GET LATE = 1- 0.590 = 0.410

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