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A quality standard says that no more than 4 percent of the eggs sold in a store may be cracked (not broken, just cracked). In 5 cartons (12 eggs each carton), 3 eggs are cracked.
(a) Calculate a p-value for the observed sample result. Hint: Use Excel to calculate the binomial probability P(X ≥ 3 | n = 60, π
π = .04) = 1 - P(X ≤ 2 | n = 60, π = .04). (Round your answer to 4 decimal places.)
P(X ≥ 3) ________
(b) We fail to reject the null hypothesis at α = .10.
(c) This sample shows that the standard is exceeded.
Yes
No
Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..
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