In an effort to cut costs and improve profits, many U.S. companies have been turning to outsourcing.
Question:
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 565 of these companies are contacted.
a. What is the probability that 339 or more companies outsourced some part of their manufacturing process in the past two to three years?
b. What is the probability that 288 or more companies outsourced some part of their manufacturing process in the past two to three years?
c. What is the probability that 50% or less of these companies outsourced some part of their manufacturing process in the past two to three years?
Step by Step Answer:
p 54 n 565 a P x 339 From Table A5 the area for z 286 is 4979 P x 339 5000 ...View the full answer
Business Statistics For Contemporary Decision Making
ISBN: 978-1118749647
8th edition
Authors: Black Ken
