The National Association of Realtors estimates that 23% of all homes purchased in 2004 were considered investment properties. If a sample of 800 homes sold in 2004 is obtained what is the probability that at least 175 homes are going to be used as investment property?

A) 0.5189

B) 0.7764

C) 0.2236

D) 0.4821

1 Answers

Best Answer

The National Association of Realtors estimates that 23% of all homes purchased in 2004 were considered investment properties. If a sample of 800 homes sold in 2004 is obtained what is the probability that at least 175 homes are going to be used as investment property?

**Solution: 0.7764**