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 exceeding 2%

Subject:BusinessPrice:3.87 Bought7

Share With

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 exceeding 2%. Assume a total of

8000 transactions per day (n=8000). This question can be answered using the material on

sampling distribution of proportions. In the formula, p (population proportion) = 655/36,000,

while ps=0.02.