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.)

The question is about sampling distributionGiven :Popl. prop. of customers exceeds their credit…

Answered: 1. When a customer places an order with…

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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What is the difference between discrete and continuous probability distributions. How do you think probability distributions can be used in business decision-making
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Please provide steps for how you got the solution to the problem provided below, I am trying to understand the problem, not just see an answer. Thank you so much. A manufacturing line produces a variety of components, one every 10 minutes. Due to uncertainties in the manufacturing process, components are produced randomly. Specifically, the next produced component is of type A with probability 0.2, of type B with probability 0.15 and of some other type the rest of the time. A particular product consists of three total components, 1 of type A and 2 of type B. A robot is assembling the units of this product one at a time. The robot is located at the end of the production line and collects a required component as soon as it is outputted by the line. If a component is not collected by the robot, because it is not needed for the current assembly, it moves past and is used elsewhere. Once one unit of product is assembled, it is shipped and a new assembly starts. Shipment procedure also…

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