THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 57

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A store has determined that 28% of all refrigerators purchasers will also purchase a service agreement.In one month,250 refrigerators are sold to customers who can be regarded as a random sample of all purchasers.
-What is the probability that the sample proportion will be less than 0.30?

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Definitions:

Grade-Point Average

A numerical representation of a student's academic performance, averaged across all completed courses.

Economic Profit

is the surplus or gain realized when the total revenues generated by a business exceed the explicit and implicit costs of operation.

Average Total Cost

The sum of all production expenses divided by the amount of products made.

Units

Basic measures or quantities, such as length, mass, time, etc., that serve as standards for expressing and comparing quantities.