A Machine Which Manufactures a Part for a Car Engine

question 97

Short Answer

A machine which manufactures a part for a car engine was observed over a period of time before a random sample of 300 parts was selected from those produced by this machine. Out of the 300 parts, 15 were defective.
Find the proportion of defective parts in the sample.
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Is the sampling distribution of the proportion of defectives approximately normal?
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What is the mean?
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What is the standard deviation?
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What is the probability that the sample proportion will lie within 0.02 of the true population proportion of defective parts?
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Definitions:

Exchange Rates

The rate at which one currency can be exchanged for another, which affects international trade and investments.

Equipment

Tangible property used in business operations that is not considered inventory and is expected to be used long-term.

Functional Currency

The currency of the primary economic environment in which an entity operates, and in which it generates and spends cash.

Exchange Rates

The price of one country's currency in terms of another's, used in international trade and investment.