THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 83

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
It is estimated that 1.3% of all items produced on an assembly line have some form of defect.You randomly select 60 items for inspection.
-The probability is 86% that the proportion of items with a defect is less than what number?

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Definitions:

Est. Cost of Goods Sold

An estimated figure representing the cost directly associated with the production of the goods sold by a company.

Selling Price

The amount of money a seller charges for a product or service.

Credit Sales

Transactions where goods or services are sold and payment is delayed, typically recorded as accounts receivable.

Required Production

The quantity of products a company needs to produce to meet its sales goals and inventory levels.