In an effort to cut costs and improve profits, many U.S. 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 560 of these companies are contacted. Appendix A Statistical Tables a. What is the probability that 336 or more companies outsourced some part of their manufacturing process in the past two to three years? b. What is the probability that 287 or more companies outsourced some part of their manufacturing process in the past two to three years? c. What is the probability that 51% or less of these companies outsourced some part of their manufacturing process in the past two to three years?
In an effort to cut costs and improve profits, many U.S. 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 560 of these companies are contacted.
a. What is the probability that 336 or more companies outsourced some part of their manufacturing process in the past two to three years?
b. What is the probability that 287 or more companies outsourced some part of their manufacturing process in the past two to three years?
c. What is the probability that 51% or less of these companies outsourced some part of their manufacturing process in the past two to three years?
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