Compute Probabilities of a Sample Proportion
-Smith Is a Weld $5 \%$

question 1

Multiple Choice

Compute Probabilities of a Sample Proportion
-Smith is a weld inspector at a shipyard. He knows from keeping track of good and substandard welds that for the afternoon shift $5 \%$ of all welds done will be substandard. If Smith checks 300 of the 7500 welds completed that shift, would it be unusual for Smith to find 30 or more substandard welds?

• A) Yes
• B) \(\mathrm { No }\)

---

Definitions:

Demand

The quantity of a product or service that consumers are willing and able to purchase at various prices during a specified time period.

Supply And Demand

A fundamental economic concept that describes the relationship between the quantity of a commodity available and the quantity of that commodity people are willing to buy at certain price levels.

Marketing

The business process of identifying, anticipating, and satisfying customers' needs and wants through creating, offering, and exchanging products of value.

Operations

The day-to-day activities involved in running a business, especially those related to production and delivery of goods and services.