An Automobile Manufacturer Has Determined That 30% of All Gas

question 225

Essay

An automobile manufacturer has determined that 30% of all gas tanks that were installed on its 2002 compact model are defective. If 13 of these cars are independently sampled, what is the probability that more than half need new gas tanks?

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Definitions:

Issuing Corporation

A company that raises capital through the sale of securities, such as shares or bonds, to investors.

Potential Investors

Individuals or entities that are considering investing capital in a particular project or company but have not yet made a commitment.

Private Debt

Private debt refers to loans or debt financing that is not issued or traded in the public markets, typically provided by private lenders.

Venture Capital

Funding provided by investors to startups and small businesses that have a high potential for long-term growth.