The National Association of Realtors Estimates That 23% of All

question 42

Multiple Choice

The National Association of Realtors estimates that 23% of all homes purchased in 2004 were consideredinvestment properties. If a sample of 800 homes sold in 2004 is obtained what is the probability that at least 175homes are going to be used as investment property?

• A) 0.7764
• B) 0.4821
• C) 0.2236
• D) 0.5189

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Definitions:

Punch Card

A piece of stiff paper that can be used to contain digital data represented by the presence or absence of holes in predefined positions.

Retention Program

A set of activities or strategies designed by a business to increase the likelihood of a customer continuing to use their service or purchase their products.

Affordable Method

A budgeting technique where the cost of an action or project is determined based on what is financially feasible.

Principal Accounting Method

The main system a business uses to maintain its financial records and prepare financial statements, such as accrual or cash basis accounting.