Question

A real estate agent has 15 properties that she shows. She feels that there is a 60% chance of selling any one property during a week. The chance of selling any one property is independent of selling another property. Compute the probability of selling more than 5 properties in one week. Round your answer to four decimal places.

Answer 1

Here we have n=15 is constant, p=0.60 is same for all, events are independent and only two outcomes

So all the properties of binomial are satisfied

So we will use binomial distribution to find the required probability

$P(x>5)=1-P(x\leq 5)=1-BINOMDIST(5,15,0.6,1)=1-0.0338=0.9662$