Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Statistics and Probability Expert

A business executive, transferred from Chicago to Atlanta, needs to sell her house in Chicago quickly. The executive's employer has offered to buy the house for $210,000, but the offer expires at the end of the week. The executive does not currently have a better offer but can afford to leave the house on the market for another month. From conversations withher realtor, the executive believes the price she will get by leaving the house on the market for another month is uniformly distributed between $200,000 and $225,000.

a. If she leaves the house on the market for another month, what is the mathematical expression for the probability density function of the sales price?

b. If she leaves it on the market for another month, what is the probability she will get at least $215,000 for the house?

c. If she leaves it on the market for another month, what is the probability she will get less than $210,000?

d. Should the executive leave the house on the market for another month? Why or why not?

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M91522238
  • Price:- $20

Priced at Now at $20, Verified Solution

Have any Question?


Related Questions in Statistics and Probability

Doolittle co is expected to pay a dividend of 23 next year

Doolittle Co. is expected to pay a dividend of $2.3 next year. Doolittle is expected to pay 20% of its earnings as dividends and will have an ROE of 9% until the fourth year. After that, its ROE is expected to decrease t ...

When you purchased your house you took out a 30-year

When you purchased your? house, you took out a? 30-year annual-payment mortgage with an interest rate of 7% per year. The annual payment on the mortgage is 16,803. You have just made a payment and have now decided to pay ...

A research a research institute conduct the clinical trials

A research a research institute conduct the clinical trials of a method designed to increase the probability of conceiving a boy. Amount 170 to babies born to parents using the method. 146 for boys. Identity identify the ...

Problem descriptionthe blockchain is a decentralized ledger

Problem Description: The blockchain is a decentralized ledger of all transactions across a peer-to-peer network. Using this technology, participants can confirm transactions without a need for a central clearing authorit ...

Can someone explain this to me or draw it out so that i can

Can someone explain this to me? Or draw it out so that I can understand. You may see a problem like the following: a mean score of 20 and SD of 3, and asked what percentage of cases will be between 17 and 23, you would r ...

1 a team of researchers have developed a new weight loss

1. A team of researchers have developed a new weight loss drug. They want to know if patients who use the new drug for two weeks lose any weight. The drug has some minor side effects including mild headaches and achiness ...

Lipto biomedic has credit sales of 740000 yearly with

Lipto Biomedic has credit sales of $740,000 yearly with credit terms of net 60 days, with an average collection period of 75 days. Lipto does not offer a discount for early payment.  (Use 365 days in a year.) a-1. What i ...

Emmons corporation has a 02 probability of a return of 054

Emmons Corporation has a 0.2 probability of a return of 0.54, a 0.3 probability of a rate of return of 0.05, and the remaining probability of a 0.1 rate of return. What is the variance in the expected rate of return of E ...

If the data are pooled the 48 before scores had an average

If the data are pooled, the 48 "before" scores had an average of 7.48 and a standard deviation of 0.652. Assume that the "before" scores of people who have not seen any pictures has an average of 7.48 and a standard devi ...

Below is my attempt at answering a quiz question and i am

Below is my attempt at answering a quiz question and I am seeking feedback (my answers are in bold): The Final Exam scores for all students enrolled in STAT 200 have a mean score of 72. One randomly selected section of S ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As