TABLE 7-8 According to a Survey,only 15% of Customers Who Visited the Visited

question 6

Short Answer

TABLE 7-8
According to a survey,only 15% of customers who visited the website of a major retail store made a purchase.Random samples of size 50 are selected from a population of 900.Use the finite population correction factor.
-Referring to Table 7-8,what is the probability that a random sample of 50 will have at least 30% of customers who will make a purchase after visiting the website?

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Definitions:

Average Total Cost

The total cost of production divided by the number of goods produced, showing the average cost per unit.

Raw Materials

The basic, unprocessed materials used in manufacturing or production processes.

Trademarks

Legal designations that protect brand names, logos, and other distinctive signs to distinguish goods or services.

R&D Expenditures

Funds allocated by businesses, governments, or other organizations towards research and development in order to innovate and create new products or improve existing ones.