The Number of Homes Sold by a Realtor During a Month

question 94

Multiple Choice

The number of homes sold by a realtor during a month has the following probability distribution: What is the probability that the realtor sells no more than one house during a month?

• A) 0.20
• B) 0.40
• C) 0.60
• D) 0.80

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Definitions:

Tax Rate

The rate at which the government taxes an individual or corporation's income or earnings.

Loanable Funds

The total resources or funds available for borrowing, typically within a nation's financial markets, where savers supply funds and borrowers demand them.

Interest Income

Earnings received from deposit accounts like savings, or from investments like bonds, calculated as a percentage of the principal.

Loanable Funds Model

An economic model that describes the market where borrowers and lenders interact, determining the equilibrium interest rate and quantity of loanable funds.