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The Online Access Computer Service Industry Is Growing at an Extraordinary

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Short Answer

The online access computer service industry is growing at an extraordinary rate. Current estimates suggest that 75% of the home-based computers have access to online services. Suppose 20 people with home-based computers were randomly and independently sampled. Find the probability that fewer than 10 of those sampled currently have access to online services.


Definitions:

Average Number

A mathematical concept that represents the central or typical value in a set of numbers, calculated by dividing the sum of all values by the count of numbers.

Current Assets

Assets owned by a company that are expected to be converted into cash, sold, or consumed within a year or within the operating cycle.

Gross Profit

The difference between total revenue and the cost of goods sold, before deducting any selling, administrative, or other expenses.

Gross Profit

The difference between sales revenue and the cost of goods sold, before deducting overheads, salaries, and other operating expenses.

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