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:

SKU

A stock-keeping unit, a unique identifier for each distinct product and service that can be purchased.

UPC

Universal Product Code; a barcode symbol that identifies products uniquely for retail.

RFID

Radio-Frequency Identification, a technology using electromagnetic fields to automatically identify and track tags attached to objects.

Product Item

A specific product that has a unique brand, size, or price.