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Videocassette recorder (VCR) tapes are designed so that users can repeatedly record new material over old material. However, after a number of re-recordings the tape begins to deteriorate. A VCR tape manufacturer is experimenting with a new technology, which hopefully will produce longer-lasting tapes. Thirty of the old-style tapes and 30 utilising the new technology were used in an experiment. The tapes were used to record and re-record programs until they began to deteriorate. The number of re-recordings is assumed to be normally distributed. It is generally accepted that the number of re-recordings should exceed 55. Any tapes that do not meet this criterion are considered to be unacceptable. The number of re-recordings were observed and shown in the accompanying table.
Estimate with 90% confidence the proportion of unacceptable old tapes, and briefly describe what this interval estimate tells you.
Operation Of Law
Changes in rights or obligations that occur automatically due to established legal rules, without the need for action by the parties involved.
Bankruptcy
A legal process through which individuals or businesses unable to meet their financial obligations can seek relief from some or all of their debts.
Partnership By Estoppel
A legal doctrine that treats a non-partnership as if it were an actual partnership because third parties were misled to believe a partnership existed.
Delectus Personae
A legal principle emphasizing the importance of personal choice and trust in the selection of individuals to fulfill certain roles, especially in partnerships.
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