The Internal auditing staff of a local manufacturing company performs a sample audit each quarter to estimate the proportion of accounts that aredelinquent more than 90 days overdue. The historical records of the company show that over the past 8 years 14 percent of the accounts aredelinquent. For this quarter, the auditing staff randomly selected 250 customer accounts.What is the probablity that at least 40 accounts wil be classified as delinquent? Round your answer to four decimal places.Answer

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Answered: The Internal auditing staff of a local…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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The Humane Society is interested in finding out how many households in America have at least one cat. How many households must be surveyed to be 95% confident that the estimate will be within 4% of the true population percentage?
In a Gallup poll of 1236 adult respondents, 6% said that bad luck follows breaking a mirror. That percentage has a margin of error of 1.5 percentage points. Why is it misleading to state that the percentage is 6% with a margin of error of 1.5%?
In a recent year, the Better Business Bureau settled 73% of complaints they received. You have been hired by the Bureau to investigate complaints this year involving computer stores. You plan to select a random sample of complaints to estimate the proportion of complaints the Bureau is able to settle. Assume the population proportion of complaints settled for the computer stores is 0.73, as mentioned above. Suppose your sample size is 113. DO NOT USE THE EXCEL FORMULA. CALCULATE BY HAND OR WITH A CALCULATOR. 1. What is the probability that the sample proportion will be within 4 percent of the population proportion?
The control department of a light bulb manufacturer randomly picks 4400 light bulbs from the production lot every week. The records show that, when there is no malfunction, the defect rate in the manufacturing process (due to imperfections in the material used) is 1% . When 1.5% or more of the light bulbs in the sample of 4400 are defective, the control unit calls repair technicians for service. Answer the following. (If necessary, consult a list of formulas.) (a)Find the mean of p , where p is the proportion of defective light bulbs in a sample of 4400 when there is no malfunction. (b)Find the standard deviation of p . (c)Compute an approximation for P≥p0.015 , which is the probability that the service technicians will be called even though the system is functioning properly. Round your answer to four decimal places.
The state education commission wants to estimate the fraction of tenth grade students that have reading skills at or below the eighth grade level. Step 1 of 2: Suppose a sample of 333 tenth graders is drawn. Of the students sampled, 260 read above the eighth grade level. Using the data, estimate the proportion of tenth graders reading at or below the eighth grade level. Enter your answer as a fraction or a decimal number rounded to three decimal places. Step 2 of 2: Suppose a sample of 333 tenth graders is drawn. Of the students sampled, 260 read above the eighth grade level. Using the data, construct the 80% confidence interval for the population proportion of tenth graders reading at or below the eighth grade level. Round your answers to three decimal places.
There are 435 seats in a nation's House of Representatives. The number of representatives per state is calculated using a statistical formula determined by law, but allocation is roughly proportionate to population. In 2010, the nation's population was estimated to be 309.1 million. The state's population was estimated at 26.1 million. How many representatives would you expect to be assigned to the state? Suppose the state actually has 34 representatives. Compare this with the expected number of representatives from the state.
The table below shows the results of a survey in which 142 male and 145 female workers ages 25 to 64 were asked if they had at least one month's income set aside of emergencies.
An Associated Press story in Easton, Maryland’s The Star Democrat on June 3, 2010 reported thatAll told, scam artists are believed to have stolen about $47 billion from Medicare in the 2009 fiscal year, nearly triple the toll a year earlier. Medicare spokesman Peter Ashkanaz said that…charges have been filed against 103 defendants in cases involving more than $100 million in Medicare fraud.(a) What percentage of the Medicare fraud has been targeted by filed charges?(b) What is the average claim in each fraud charge?(c) How many of these average size claims would need to be filed to recover the entire $47 billion?

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