THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 3

Multiple Choice

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
Suppose that 20% of all invoices are for amounts greater than $800.A random sample of 50 invoices is taken.
-Suppose that 15% of all invoices are for amounts greater than $1,000.A random sample of 60 invoices is taken.What is the probability that between 13% and 23% of these 60 invoices are for more than $1,000?

• A)0.4591
• B)0.2019
• C)0.1664
• D)0.6255

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Definitions:

Transportation

The movement of people, animals, goods, and materials from one location to another through various means, such as vehicles, trains, ships, and airplanes.

Developed Countries

Nations with advanced economic systems, higher standards of living, and stable governments.

Healthcare Costs

The expenses related to medical and health services, including prevention, diagnosis, treatment, and management of illnesses.

Medical Insurance Companies

Businesses that provide coverage for healthcare expenses to individuals or groups in exchange for premium payments.