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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?

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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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.)
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.)
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