# Question: The CEO of a mid sized company has to relocate to

The CEO of a mid-sized company has to relocate to another part of the country. To make it easier, the company has hired a relocation agency to help purchase a house. The CEO has 5 children and so has specified that the house have at least 5 bedrooms, but hasn’t put any other constraints on the search. The relocation agency has narrowed the search down to the houses in the table and has selected one house to showcase to the CEO and family on their trip out to the new site. The agency doesn’t know it, but the family has its heart set on a Cape Cod house with a fireplace. If the agency selected the house at random, without regard to this:

a) What is the probability that the selected house is a Cape Cod?

b) What is the probability that the house is a Colonial with a fireplace?

c) If the house is a Cape Cod, what is the probability that it has a fireplace?

d) What is the probability that the selected house is what the family wants?

a) What is the probability that the selected house is a Cape Cod?

b) What is the probability that the house is a Colonial with a fireplace?

c) If the house is a Cape Cod, what is the probability that it has a fireplace?

d) What is the probability that the selected house is what the family wants?

**View Solution:**## Answer to relevant Questions

Laptop Computers have been growing in popularity according to a study by Current Analysis Inc. Laptops now represent more than half the computer sales in the United States. A campus bookstore sells both types of computers ...A broker has calculated the expected values of two different financial instruments X and Y. Suppose that E(X) = $100, E (Y) = $90, SD (X) = $12, and SD (Y) — $8. Find each of the following. a) £ (X+ 10) and SD (X + 10) b) ...The probability model below describes the number of repair calls that an appliance repair shop may receive during an hour. a) How many calls should the shop expect per hour? b) What is the standard deviation? A commuter finds that she waits an average of 14.8 seconds at each of five stoplights, with a standard deviation of 9.2 seconds. Find the mean and the standard deviation of the total amount of time she waits at all five ...A day trader buys an option on a stock that will return $100 profit if the stock goes up today and lose $400 if it goes down. If the trader thinks there is a 75% chance that the stock will go up, a) What is her expected ...Post your question