Your Company's Internal Auditor Believes That 10% of the Company's

question 70

Short Answer

Your company's internal auditor believes that 10% of the company's invoices contain errors. To check this theory, 20 invoices are randomly selected and 5 are found to have errors.
-What is the probability that of the 20 invoices written,five or more would contain errors if the theory is valid?

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Definitions:

N = 20

Denotes a sample size of 20 in statistical terms, referring to the number of subjects or units in a study or experiment.

Creative Benefits

Non-traditional compensation or perks offered by employers, often designed to accommodate personal needs and preferences of employees.

Competitive Edge

An advantage that allows an organization to outperform its rivals.

Talented Employees

Individuals who possess a high level of skill, creativity, or intelligence, making them particularly valuable to their employers.