When a Truckload of Oranges Arrives at a Packing Plant,a

question 19

Multiple Choice

When a truckload of oranges arrives at a packing plant,a random sample of 125 is selected and examined.The whole truckload will be rejected if more than 8% of the sample is unsatisfactory.Suppose that in fact 11% of the oranges on the truck do not meet the desired standard.What is the probability that the shipment will be accepted anyway?

• A)0.0827
• B)0.2846
• C)0.9173
• D)0.1423
• E)0.8577

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Definitions:

Balance Sheet Accounts

These are financial accounts that show the assets, liabilities, and owner's equity of a company at a specific point in time.

Permanent Accounts

These are ledger accounts that carry their ending balances into the next accounting period, typically including asset, liability, and equity accounts.

Temporary

In accounting, temporary refers to accounts that are closed at the end of an accounting period, such as revenues, expenses, and dividends.

Forthcoming Year

The approaching or upcoming calendar year.