1. When a customer places an order with ACME Food Supplies, the accounting information system (AIS) automatically checks to see if the customer exceeds its credit limit. Last month, ACME processed 5000 orders and 6% exceeded the customer's credit limit. If a random sample of 360 orders is selected from these transactions, what is the probability between 2.5% and 5.2% exceed their credit limit?
1. When a customer places an order with ACME Food Supplies, the accounting information system (AIS) automatically checks to see if the customer exceeds its credit limit. Last month, ACME processed 5000 orders and 6% exceeded the customer's credit limit. If a random sample of 360 orders is selected from these transactions, what is the probability between 2.5% and 5.2% exceed their credit limit?
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter11: Data Analysis And Probability
Section: Chapter Questions
Problem 8CR
Related questions
Question
Sampling Distribution - Question 1
Please solve with simple probability rules
![### Probability Question on Exceeding Credit Limits
**Question:**
1. When a customer places an order with ACME Food Supplies, the accounting information system (AIS) automatically checks to see if the customer exceeds its credit limit. Last month, ACME processed 5000 orders and 6% exceeded the customer’s credit limit. If a random sample of 360 orders is selected from these transactions, what is the probability between 2.5% and 5.2% exceed their credit limit?
---
(No graphs or diagrams are present in this image.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F57c1a9e8-096b-4fde-a3f9-c0ea42610dcd%2Ff5b59164-6f69-46a8-b2b1-0b2cb3685f40%2Foxqulqk_processed.jpeg&w=3840&q=75)
Transcribed Image Text:### Probability Question on Exceeding Credit Limits
**Question:**
1. When a customer places an order with ACME Food Supplies, the accounting information system (AIS) automatically checks to see if the customer exceeds its credit limit. Last month, ACME processed 5000 orders and 6% exceeded the customer’s credit limit. If a random sample of 360 orders is selected from these transactions, what is the probability between 2.5% and 5.2% exceed their credit limit?
---
(No graphs or diagrams are present in this image.)
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 4 steps with 14 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![Holt Mcdougal Larson Pre-algebra: Student Edition…](https://www.bartleby.com/isbn_cover_images/9780547587776/9780547587776_smallCoverImage.jpg)
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
![College Algebra](https://www.bartleby.com/isbn_cover_images/9781337282291/9781337282291_smallCoverImage.gif)
![Glencoe Algebra 1, Student Edition, 9780079039897…](https://www.bartleby.com/isbn_cover_images/9780079039897/9780079039897_smallCoverImage.jpg)
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
![Holt Mcdougal Larson Pre-algebra: Student Edition…](https://www.bartleby.com/isbn_cover_images/9780547587776/9780547587776_smallCoverImage.jpg)
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
![College Algebra](https://www.bartleby.com/isbn_cover_images/9781337282291/9781337282291_smallCoverImage.gif)
![Glencoe Algebra 1, Student Edition, 9780079039897…](https://www.bartleby.com/isbn_cover_images/9780079039897/9780079039897_smallCoverImage.jpg)
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
![College Algebra](https://www.bartleby.com/isbn_cover_images/9781938168383/9781938168383_smallCoverImage.gif)
![College Algebra (MindTap Course List)](https://www.bartleby.com/isbn_cover_images/9781305652231/9781305652231_smallCoverImage.gif)
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning