Real Estate: Sales Jim is a real estate agent who sells
Chapter , Problem 17(choose chapter or problem)
Real Estate: Sales Jim is a real estate agent who sells large commercial buildings. Because his commission is so large on a single sale, he does not need to sell many buildings to make a good living. History shows that Jim has a record of selling an average of eight large commercial buildings every 275 days. (a) Explain why a Poisson probability distribution would be a good choice for r number of buildings sold in a given time interval. (b) In a 60-day period, what is the probability that Jim will make no sales? one sale? two or more sales? (c) In a 90-day period, what is the probability that Jim will make no sales? two sales? three or more sales?
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