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Business, 18.06.2020 19:57 Inrimid3619

Cooper Realty is a small real estate company located in Albany, New York, that specializes primarily in residential listings. The company recently became interested in determining the likelihood of one of its listings being sold within a certain number of days. An analysis of company sales of 800 homes in previous years produced the following data. Days Listed Until Sold Under 30 31–90 Over 90 Total Initial Asking Price Under $150,000 50 40 10 100 $150,000–$199,999 20 150 80 250 $200,000–$250,000 20 280 100 400 Over $250,000 10 30 10 50 Total 100 500 200 800 (a) If A is defined as the event that a home is listed for more than 90 days before being sold, estimate the probability of A. If required, round your answer to two decimal places. (b) If B is defined as the event that the initial asking price is under $150,000, estimate the probability of B. If required, round your answer to three decimal places.

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