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A Manufacturer of Computer Disks Has a Historical Defective Rate

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Short Answer

A manufacturer of computer disks has a historical defective rate of .001.What is the probability that in a batch of 1000 disks,2 would be defective?


Definitions:

Drawer of Cheque

The person who writes or issues a cheque, instructing a bank to pay a specific amount of money from the drawer’s account to the party named on the cheque.

Breach of Contract

An occurrence when one party does not honor a commitment or fails to perform any term of a contract without a legitimate legal excuse.

Undue Influence

Pressure from a dominant, trusted person that makes it impossible for a party to bargain the terms of a contract freely.

Negotiable Instruments

Substitutes for money that bestow unique benefits; vehicles for conveniently transferring funds or advancing credit.

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