Monday, July 18, 2011

Statistics sample information?

A report of the AAH indicated that 40% of home buyers will do some sort of remodeling in the first 5 years of home ownership. a) based on the above info what is the probabaility that in a sample of 20 homeowners, less that 4 remodelled their home in the first 5 years? b) based on this information how many homeowners in a sample of 20 would you expect to have done remodeling in the frist 5 years of ownership?

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