If a Random Sample of 200 Items Is Taken from a Population

question 27

Multiple Choice

If a random sample of 200 items is taken from a population in which the proportion of items having a desired attribute is p = 0.30, what is the probability that the proportion of successes in the sample will be less than or equal to 0.27?

• A) 0.0841
• B) 0.1011
• C) 0.1912
• D) 0.1762

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Definitions:

Wholesalers

Merchants who buy goods from suppliers and manufacturers for sale to retailers.

Retailers

Merchants who buy goods from wholesalers for resale to customers.

Credit Terms

Conditions under which credit is extended by a seller to a buyer, detailing the repayment period, interest rate, and penalties for late payment.

Discount

A reduction in the price of goods or services, usually offered to encourage purchase or provided for early payment.