THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING

question 165

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING:
As a purchasing agent,you are responsible for selecting sources of supply for manufactured components to use in your firm's production process.The salesman for a certain supplier has indicated that they can supply an electronic sub-assembly that has a defect rate of 1.1%-well below your current supplier's defect rate.You accept 100 sub-assemblies for evaluation,and find that there were four defects.
-Using the Poisson approximation to the binomial,how likely is it to get four or less defects out of 100?

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Definitions:

Plain-Meaning Rule

A principle of legal interpretation that directs courts to interpret statutes according to the ordinary meaning of the language used, absent a clear indication of an alternative intent.

Statutory Interpretation

Statutory interpretation involves the process by which courts determine the meaning and application of legislation.

Rule of Construction

A legal principle used to interpret the meaning and intent of statutes, contracts, or other legal documents.

Statute

A written law passed by a legislative body at the federal, state, or municipal level.