Forty-five percent of all homes for sale in your local area sell quickly—within 20 days of listing. Thirty-fve percent sell within 21 to 50 days. The remaining homes sell slowly, taking longer than 50 days. Pilot Realty claims that it accounts for 90% of the quick sales (20 days or less), 30% of the 21-50 day sales, and only 10% of the slow sales (more than 50 days).
a. Overall, Pilot accounts for what percentage of local home sales?
b. Based on the fgures above, if Pilot lists a house, what is the likelihood that the house will sell in 20 days or less?