The National Association of Realtors Estimates That 23% of All

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 most
200 homes are going to be used as investment property?

A) 0.9099
B) 0.4066
C) 0.0934
D) 0.5935