Find the probability that you will do the mass mailing

Reference no: EM131805386

Question: You have just sent out a test mailing of a catalog to 1,000 people randomly selected from a database of 12,320 addresses. You will go ahead with the mass mailing to the remaining 11,320 addresses provided you receive orders from 2.7% or more from the test mailing within 2 weeks. Find the probability that you will do the mass mailing under each of the following scenarios:

a. Assume that, in reality, exactly 2% of the population would send in an order within 2 weeks.

b. Assume that, in reality, exactly 3% of the population would send in an order within 2 weeks.

c. Assume that, in reality, exactly 4% of the population would send in an order within 2 weeks.

Reference no: EM131805386

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