You are a real estate salesperson and you currently have 10 listings. Past experience has shown that you will sell approximately 70% of your listings. If sales are independent:
What is the probability that you make exactly 8 sales?
The Attempt at a Solution
I was wondering why 70% would be used as the the probability for the event of interest... I thought the probability would be the probability of ONE listing that would sell and not 7/10 of your listings. Can someone explain?