Question: A company involved in making solar panels estimates that 3% of its product is nonconforming. If a random sample of 5 items is selected from

A company involved in making solar panels estimates that 3% of its product is nonconforming. If a random sample of 5 items is selected from the production output, what is the probability that none are nonconforming? That 2 are nonconforming? The cost of rectifying a nonconforming panel is estimated to be $5. For a shipment of 1000 panels, what is the expected cost of rectification?

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