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14 November, 10:06

The National Association of Realtors estimates that 23% of all homes purchased in 2004 were consideredinvestment properties. If a sample of 800 homes sold in 2004 is obtained what is the probability that between175 and 200 homes are going to be used as investment property

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  1. 14 November, 11:53
    0
    0.9099

    Step-by-step explanation:

    1) =

    =

    200

    800

    =.25

    2) Identify =. =.23

    3) Find the z-value.

    =

    -

    (1-)

    =

    .25-.23

    .23 (1-.23)

    800

    = 1.34

    4) The probability is 0.9099.
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