Based on Past Experience,only 0

question 70

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 at least 4 invoices will contain an error?

---

Definitions:

Consumption

The use of goods and services by households, constituting one of the primary components of aggregate demand in an economy.

Great Depression

A severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States.

Permanent Income Hypothesis

A theory suggesting that an individual's consumption at a point in time is determined by their expected lifetime income, not just their current income.

Consumption

Consumption involves the use of goods and services by households, and it's a primary component of economic activity.