A large mail house which mails such items as catalogues, magazines, and other bulk mailings guarantees that there will be no more than a 3% error rate on its mailing labels. A customer who contracted a mailing to 190,000 individuals experienced a return of 5,900 items, which had incorrect addresses. Which of the following statements is true?
a. There is a 3% chance of an incorrect return.
b. There is a 0.0054 probability that a return of 5900 or more incorrect addresses could occur if the true error rate is 3%.
c. There is a 0.4964 probability that a return of 5900 or more incorrect addresses could occur if the true error rate is 3%.
d. There is a 2.69 percent possibility that a return of 5900 incorrect addresses could occur if the true error rate is 3%.
e. None of these statements are correct.
B
You might also like to view...
Evert Company recently acquired 5,000 shares of its $2 par value common stock for $10 per share. Evert initially issued the stock for $7.50 per share. Required:
Assuming the shares were purchased as treasury shares, prepare the necessary journal entry to record the purchase of the 5,000 shares.Continuing with the assumption that the shares were purchased as treasury shares, prepare the journal entry to record the sale of 2,500 shares of the treasury stock for $11.50 per share. Continuing with the assumption that the shares were purchased as treasury shares, prepare the journal entry to record the subsequent sale of 2,000 shares of treasury stock for $9.75 per share. Assuming the shares were purchased and retired, prepare the journal entry to record the retirement of the shares. What will be an ideal response?
__________ was concerned with managing the total organization and was pioneered by Fayol and Weber.
A. Administrative management B. Operations management C. Management science D. Scientific management E. Contemporary management
In the statement of cash flows, a decrease in accounts payable would be shown as an increase in the Operating Activities category
a. True b. False Indicate whether the statement is true or false
How does emotional ineptitude impede relationships?
What will be an ideal response?