In an effort to cut costs and improve profits, any US companies have been turning to outsourcing. In fact, according to Purchasing magazine, 54% of companies surveyed outsourced some part of their manufacturing process in the past two to three years. Suppose n=659n=659 of these companies are contacted.What is the probability percentage that 338 or more companies outsourced some part of their manufacturing process in the past two or three years? Round the percent to two decimal places. What is the probability percentage that 285 or more companies outsourced some part of their manufacturing process in the past two or three years? Round the percent to two decimal place. What is the probability percentage that 48% or less of these companies outsourced some part of their manufacturing process in the past two or three years? Round the percent to two decimal places.

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Description: In an effort to cut costs and improve profits, any US companies have been turning to outsourcing. In fact, according to Purchasing magazine, 54% of companies surveyed outsourced some part of their manufacturing process in the past two to three years.

Given, 54% of companies outsourced some parts. Suppose 659 these are contacted. This follows binomial distribution with parameters n = 659 and p = 0.54 np=659×0.54=355.86 nq=659×0.46=303.14 Here, np>5 and nq>5 then we use normal approximation on binomial distribution is satisfied. With parameters is, μ=np=355.86 σ=npq=659×0.54×0.46=163.696=12.79 1)Probability percentage that 338 or more companies outsourced some part, p(X>338)=p(X-μσ>338-μσ) =p(X - 355.8612.79>338 - 355.8612.79) =p(z>-1.40) =1-p(z<-1.40) =1-0.081368 ..... By using standard normal table p(X>338)=0.916832 Hence, The probability percent that 338 or more companies outsourced some part is 91.68%2)Probability percentage that 285 or more companies outsourced some part, p(X≥285)=p(X-μσ≥285 - μσ) =p(X - 355.8612.79≥285 - 355.8612.79) =p(z>-5.54) =1-p(z<-5.54) =1-0.00 ..... By using standard normal table p(X≥285)=1 Hence, probability percentage that 285 or more companies outsourced some part is near 100% C)Probability percentage that 48% or less of these companies outsourced some part, p(Z<z)=0.48 z0.48=-0.050 ..... By using standard normal table z=x-μσ x=μ+σz =355.86+12.79(-0.050) =355.86-0.6417 x=355.22 Hence, 355.22 is a value is having 48% less the companies outsourced some part.

Answered: In an effort to cut costs and improve…

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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In an effort to cut costs and improve profits, any US companies have been turning to outsourcing. In fact, according to Purchasing magazine, 54% of companies surveyed outsourced some part of their manufacturing process in the past two to three years. Suppose n=659n=659 of these companies are contacted.

What is the probability percentage that 338 or more companies outsourced some part of their manufacturing process in the past two or three years? Round the percent to two decimal places.
What is the probability percentage that 285 or more companies outsourced some part of their manufacturing process in the past two or three years? Round the percent to two decimal place.
What is the probability percentage that 48% or less of these companies outsourced some part of their manufacturing process in the past two or three years? Round the percent to two decimal places.

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