A Large Industrial Firm Allows a Discount on Any Invoice

question 85

Multiple Choice

A large industrial firm allows a discount on any invoice that is paid within 30 days.Of all invoices, 10% receive the discount.In a company audit, 10 invoices are sampled at random.The probability that fewer than 3 of the 10 sampled invoices receive the discount is approximately_______________.

• A)0.1937
• B)0.057
• C)0.001
• D)0.3486
• E)0.9298

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Definitions:

Case Study

A descriptive technique in which one individual or group is studied in depth in the hope of revealing universal principles.

Social-Cultural

Pertaining to the interplay of social and cultural factors that influence behaviors, thoughts, and feelings within a society.

Case Study

A research method involving an up-close, in-depth, and detailed examination of a subject of study (the case), as well as its related contextual conditions.

Representative Sample

A subset of a population that accurately reflects the members of the entire population.