In a Random Sample of 53 Items Produced by a Machine,the

question 56

Short Answer

In a random sample of 53 items produced by a machine,the quality control staff found 5 of them to be defective.Calculate the point estimate of the population proportion of defective items.Round to 4 decimal places.

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Definitions:

Federal Funds

Central bank reserves loaned by one bank to another, typically overnight, to meet reserve requirements.

Central Hudson

A legal test used by United States courts to determine the constitutionality of restrictions on commercial speech.

Commercial Speech

Speech or communication (including advertising) made by businesses that is protected under the First Amendment but can be regulated by the government.

Public Service Commission

A governmental body responsible for regulating the rates and services of public utilities.