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 exceeding 2%
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
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.
