Math Problem Statement

A real estate agent has 12 properties that she shows. She feels that there is a 40% 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 3 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) = C(n, k) * p^k * (1-p)^(n-k)
P(X > 3) = 1 - P(X <= 3)

Theorems

Binomial Theorem

Suitable Grade Level

Grades 10-12