In the accounting department of the same company, an accountant completes 500 accounting entries per day. The

Question:

In the accounting department of the same company, an accountant completes 500 accounting entries per day. The probability of making a mistake is 0.004. What is the probability that the accountant will make more than one error in a day?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For answer-question

Applied Statistics And Multivariate Data Analysis For Business And Economics

ISBN: 9783030177669

1st Edition

Authors: Thomas Cleff

See More Books

Question Posted: Dec 08, 2023 01:47 AM

See More Questions

A state government provided several grants to school districts and local governments during its scal year ending August 31. 1. On August 1, 2015, it announced a $2 million grant to a local school...
A state government provided several grants to school districts and local governments during its fiscal year ending August 31. 1. On August 1, 2018, it announced a $2 million grant to a local school...
Dominic Hunter, a second- year business student at the University of Utah, will graduate in two years with an accounting major and a Spanish minor. Hunter is trying to decide where to work this...
Classify each of the following random variables as either continuous or discrete: a. The survival time of a cancer patient after receiving a new treatment for cancer b. The number of ticks found on a...
Review the results from E23-19 and E23-20. Requirement 1. Record the journal entries to record materials, labor, variable overhead, and fixed overhead. Record the journal entries to record the...
Acrimony Limited has the following balances in its general ledger on 31 December 20X8 (in thousands of Canadian dollars): Required: Prepare, in good form, a statement of income and comprehensive...
Mr. Prestages foot and lower leg were caught in a combine manufactured by defendant SperryNew Holland. He and his wife sued Defendant for damages arising out of the accident. Their first cause of...
1. Would an ERP strategy work well for Personal Trainer? Investigate ERP strategies and products available from Internet vendors and submit a recommendation based on your research. 2. If Susan...
Explain the difference between " management controls ", which are generally the responsibility of the client's Management team and " transaction controls ", which are typically performed by...
Researchers count vehicles at two points of an intersection. The number of vehicles that pass by per minute has a Poisson distribution of 1 = 1.2 and 2 = 0.8. What is the probability that within 5...
The company Compsolutions has 40 employees. Of these, 20% are members of the union and would support a strike in the coming labour dispute. Mr. Schaffigs marketing department consists of six...
If A is a nonsingular matrix and a numerically stable algorithm is used to compute the solution to a system Ax = b, then the relative error in the computed solution will always be small. In the case...
Name your favorite retailer and identify how your retailer uses the four approaches to retaining its best customers. Choose Costco with these four approaches and explain it. Frequent Shopper...
What are some ways that we can better understand cultural differences?
What are the demographics of Este Lauder's targets audience? Age, gender, income, education Why they target these demographics and how they target them. Gives examples of how they targeted them?
You are asked to create formal letter of complaint to any Amazon from which you have received bad service. Provide letter to Amazon with whose service you have recently been disappointed. Letter...
ABC Inc. is a company which sells air tickets. Its line of business is generally considered quite stable and low risk. ABC Inc. is considering expanding into the tourism business. Tourism is...
Hu Inc., uses the allowance method to estimate uncollectible accounts receivable. The company produced the following aging of the accounts receivable at year-end. Instructions (a) Calculate the total...
What is the amount of total interest dollars earned on a $5,000 deposit earning 6% for 20 years?
Give an example of a foreign-made product (other than an automobile) that you pe r sonally have purchased. Give some reasons why you purchased that product. Do you think that there was a good...
ko, Inc.s managers are comparing the profitability of a target marketing strategy with a mass marketing strategy. The spreadsheet gives information about both approaches. The mass marketing strategy...
Do you think it makes sense for a firm to base its mission statement on the type of product it produces? For example, would it be good for a division that produces electric motors to have as its...
Sam Brown has the following in monthly income: Employment salary- 4000 Employment bonus- 500 Interest and other Investment income- 500 Net business income - 1000 Net rental income - 800 TOTAL monthly...
Tax deductions, tax credits, exemptions, and filing status differ in their impact on a taxpayer's overall liability. Choose two of these topics and explain how they differ. Provide examples that show...
Entity A, a computer programming company, granted a franchise to Entity B for 2,000,000. Entity A agreed to: 1. grant Entity B the right to access its tradename, and; 2. deliver 10 computer sets with...

In the accounting department of the same company, an accountant completes 500 accounting entries per day. The

Question:

Step by Step Answer:

The probability of error is very low P 0004 so ass...View the full answer

Applied Statistics And Multivariate Data Analysis For Business And Economics

Students also viewed these Business questions