If a selected home takes under 30 days to sell OR 90 days to sell, what is the p
ID: 3204527 • Letter: I
Question
If a selected home takes under 30 days to sell OR 90 days to sell, what is the probability it's initial asking price is under $150,000 OR over $250,000. I keep getting .5212 can someone explain if i' correct or incorrect. Please keep in mind this is a conditional probability.
Below is the key for the chart. Price1 = Under $150,000 Days1 = Under 30 Price2 = $150,000 - $199,999 Days2 = 30 - 90 Price3 = $200,000 - $250,000 Days3 = Over 90 Price4 = Over $250,000
Count of Days Price Days 1 2 3 4 Grand Total 3 63 57 72 75 267 198 173 211 218 800 Grand TotalExplanation / Answer
Answer
Required probability = [68/251] + [63 / 267], [addition of two conditional probablities]
= 0.5069
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