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Calculate the probability of the sample proportion of errors

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Reference no: EM131974755

Using data on total errors from Exhibit 3 (total errors=655, total slots checked=36,000), calculate the probability of the sample proportion of errors exceeding 2%. Assume a total of 8000 transactions per day (n=8000). This question can be answered using the material on sampling distribution of proportions. In the formula, p (population proportion) = 655/36,000, while ps=0.02.

Reference no: EM131974755

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