Question: Here is a question I cant seem to answer: A company in Hawaii manages properties for owners and arranges for the properties to be rented.
Here is a question I cant seem to answer:
A company in Hawaii manages properties for owners and arranges for the properties to be rented. A property owner who is considering using the company is told that 10% of the bookings result in a cancellation.
- Assuming that the company's number is correct, what is the probability that a random sample of 50 bookings ends up with 9 or more cancellations?
- If an audit of 200 of the company's bookings showed 25 cancellations, what might you conclude about the company's 10% claim? Base your answer on probability.
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