Math Problem Statement

A real estate agent has 18 properties that she shows. She feels that there is a 50% 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 no more than 4 properties in one week. Round your answer to four decimal places.

Solution

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Math Problem Analysis

Mathematical Concepts

Probability
Binomial Distribution

Formulas

P(X = k) = (n choose k) * p^k * (1 - p)^(n - k)
Binomial Coefficient: (n choose k) = n! / (k!(n - k)!)

Theorems

Binomial Distribution Theorem

Suitable Grade Level

Grades 10-12