Based on Past Experience,only 0

question 124

Short Answer

Based on past experience,only 0.5% of the invoices of a company contain an error.Out of the 1,500 invoices that the company will issue,what is the approximate probability that no more than 4 invoices will contain an error?

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Definitions:

Percent Decrease

A measure of how much a quantity has decreased in percentage terms compared to its previous value.

Percent Increase

The process of determining the ratio of the increase in a quantity to the original amount, expressed as a percentage.

Stock Value

The price of a single share of a company's stock, representing ownership in the company and its potential profitability.

Interest Rate

The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan remaining.