The Customer Service Manager for the XYZ Fastener Manufacturing Company

question 71

Multiple Choice

The customer service manager for the XYZ Fastener Manufacturing Company examined 60 vouchers and found 9 vouchers containing errors.Find a 98 percent confidence interval for the proportion of vouchers with errors.

• A)[.147,.153]
• B)[.080,.220]
• C)[.043,.257]
• D)[.112,.188]

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Definitions:

Maximize Profits

The goal of operating in a way that achieves the highest possible profit from business activities.

Tit-For-Tat Strategy

A game theory strategy that involves mirroring your opponent’s previous action, often used to foster cooperation or retaliate in competitive settings.

Dominant Strategy

A strategy that yields the best outcome for a player, regardless of what the opponents choose.

Bottled Water

Packaged drinking water sold in plastic or glass bottles, and possibly treated or mineral-enriched for commercial sale.