Suppose that in the bookkeeping operation of a large corporation the probability of a recording error on
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Suppose that in the bookkeeping operation of a large corporation the probability of a recording error on any one billing is .005. Suppose the probability of a recording error from one billing to the next is constant, and 1,000 billings are randomly sampled by an auditor.
a. What is the probability that fewer than four billings contain a recording error?
b. What is the probability that more than 10 billings contain a billing error?
c. What is the probability that all 1,000 billings contain no recording errors?
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Related Book For 
Business Statistics for Contemporary Decision Making
ISBN: 978-0470910184
6th Edition
Authors: Ken Black
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