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:

Least-Squares Regression

A statistical method used to determine the line of best fit by minimizing the sum of the squares of the differences between observed and predicted values.

Lubrication Cost

Expenses associated with the lubrication of machinery and equipment to ensure smooth operation and reduce wear and tear.

Net Operating Income

Income originating from a corporation's central business endeavors, excluding subtractions for interest and taxes.

Variable Component

A portion of a cost or expense that varies directly with changes in production volume, business activity, or other variables.