I hate statistics...lil help?

[wildwarren]

k, so I hate this stats course that I'm required to take because I hate probability. If anyone is even average at this stuff, you can surely help me. thanky.

A realtor finds that 60% of his houses are sold within the first month of being listed, and 72% are sold within the first two months. If a house has not sold within the first month, what is the chance it will nevertheless be sold in teh next month?

 

[anonmouseuser]

61%?

 

[bleeb]

Sounds like another YAHWT

 

[Deeko]

12%?

 

[Deeko]

meh...this is a negative binomial distribution or something annoying like that. I don't feel like doing it.

 

[Whitecloak]

Originally posted by: wildwarren
k, so I hate this stats course that I'm required to take because I hate probability. If anyone is even average at this stuff, you can surely help me. thanky.

A realtor finds that 60% of his houses are sold within the first month of being listed, and 72% are sold within the first two months. If a house has not sold within the first month, what is the chance it will nevertheless be sold in teh next month?

80%. I am not sure though as I think some info is missing.

 

[DaWhim]

that's the damn question my prof asked a few times.

 

[Wonderful Pork]

i could be completely wrong here but what the heck. I was never very good at stat

say you have 100 houses for sale, 60% of them sell the first month, leaving 40 houses unsold. After 2 months 72%, or 72 houses are sold (if I read that part correctly).

100-72 = 28 houses unsold after 2 months

40-28 = 12 houses that werent sold after 1 month are sold after 2 months

12/40 = 30% chance a house would get sold.

as I said, I'm not very good at stat.

 

[wildwarren]

hehe, we all hate stats here it seems...

 

[Koenigsegg]

30%

 

[Whaspe]

Originally posted by: Wonderful Pork
i could be completely wrong here but what the heck. I was never very good at stat

say you have 100 houses for sale, 60% of them sell the first month, leaving 40 houses unsold. After 2 months 72%, or 72 houses are sold (if I read that part correctly).

100-72 = 28 houses unsold after 2 months

40-28 = 12 houses that werent sold after 1 month are sold after 2 months

12/40 = 30% chance a house would get sold.

as I said, I'm not very good at stat.

Looks good to me.... but I'm not a Stats Prof! HA!

 

[KLin]

no no no, it's 42%