question archive Using data on total errors from Exhibit 3 (total errors=655, total slots checked=36,000), calculate the probability of the sample proportion of errors falling below 1
Using data on total errors from Exhibit 3 (total errors=655, total slots checked=36,000), calculate the probability of the sample proportion of errors falling below 1
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Using data on total errors from Exhibit 3 (total errors=655, total slots checked=36,000), calculate the probability of the sample proportion of errors falling below 1.75%. As the case indicates, there are 8000 transactions per day (n=8000). Answer this question using the material on sampling distribution of proportions. Assume population proportion p = 655/36,000.
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