A manager randomly selected 25 large cash transactions at a bank that were made in January. The manager then carefully tracked down the details of these transactions to see that the correct procedures for reporting these large transactions were followed. If the chance for a procedural error is 10%, what is the probability that the manager finds more than two such transactions

Answers

Answer 1

Answer:

0.4629 = 46.29% probability that the manager finds more than two such transactions

Step-by-step explanation:

For each transaction, there are only two possible outcomes. Either there is a procedural error, or there is not. The probability of a procedural error on a transaction is independent of any other transaction. This means that we use the binomial probability distribution to solve this question.

Binomial probability distribution

The binomial probability is the probability of exactly x successes on n repeated trials, and X can only have two outcomes.

[tex]P(X = x) = C_{n,x}.p^{x}.(1-p)^{n-x}[/tex]

In which [tex]C_{n,x}[/tex] is the number of different combinations of x objects from a set of n elements, given by the following formula.

[tex]C_{n,x} = \frac{n!}{x!(n-x)!}[/tex]

And p is the probability of X happening.

A manager randomly selected 25 large cash transactions at a bank that were made in January.

This means that [tex]n = 25[/tex]

The chance for a procedural error is 10%

This means that [tex]p = 0.1[/tex]

What is the probability that the manager finds more than two such transactions?

This is:

[tex]P(X \geq 2) = 1 - P(X < 2)[/tex]

In which

[tex]P(X < 2) = P(X = 0) + P(X = 1) + P(X = 2)[/tex]

[tex]P(X = x) = C_{n,x}.p^{x}.(1-p)^{n-x}[/tex]

[tex]P(X = 0) = C_{25,0}.(0.1)^{0}.(0.9)^{25} = 0.0718[/tex]

[tex]P(X = 1) = C_{25,1}.(0.1)^{1}.(0.9)^{24} = 0.1994[/tex]

[tex]P(X = 2) = C_{25,2}.(0.1)^{2}.(0.9)^{23} = 0.2659[/tex]

[tex]P(X < 2) = P(X = 0) + P(X = 1) + P(X = 2) = 0.0718 + 0.1994 + 0.2659 = 0.5371[/tex]

[tex]P(X \geq 2) = 1 - P(X < 2) = 1 - 0.5371 = 0.4629[/tex]

0.4629 = 46.29% probability that the manager finds more than two such transactions

Answer 2

Using the binomial probability relation, the probability that more than 2 such transactions is made is 0.463

Given the Parameters :

Sample size, n = 25 Probability of success, p = 0.10q = 1 - p = 1 - 0.10 = 0.90

Using the relation :

[tex] P(x = x) = nCx \times p^{x} * q^{n-x} [/tex]

Substituting the values into the relation :

P(X > 2) = P(X = 3) + P(X = 4) +... + P(X = 25)

Using a binomial probability calculator :

P(X > 2) = P(X = 3) + P(X = 4) +... + P(X = 25)

P(X > 2) = 0.226 + 0.138 +... +..

P(X > 130) = 0.463

The probability that more than 2 such transactions is made is 0.463

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Related Questions

The following is a random sample of the annual salaries of high school counselors in the United States. Assuming that the distribution of salaries is approximately normal, construct a 98% confidence interval for the mean salary of high school counselors across the United States. Round to the nearest dollar. $45,860,$38,860,$64,820,$63,480,$36,710,$50,410,$33,080

Answers

Solution :

      x                   [tex]$(x-\overline x)$[/tex]                          [tex]$(x-\overline x)^2$[/tex]

45860             -1742.8571                 3037551.0204

38860            -8742.8571                 76437551.0204

64820              17217.1429                296430008.1633

63480             15877.1429                252083665.3061

36710              -10892.8571              118654336.7347

50410             2807.1429                 7880051.0204

33080             -14522.8571            210913379.5918    

333220          0.0000                        965436542.8571

Sample size, n = 7

Mean = [tex]$\frac{\sum x}{n}=\frac{333220}{7}$[/tex]

                   = 47602.8571

Variance = [tex]$\frac{(\sum (x- \overline x))^2}{(n-1)}=\frac{965436542.8571}{7-1}$[/tex]

                                       = 160906090

Standard deviation = [tex]$\sqrt{Variance} = \sqrt{160906090}$[/tex]

                                                     = 12684.876

a). df = n - 1

        = 7 - 1

       = 6

Level of significance, α = 0.02

Critical, [tex]$t_c = 3.143$[/tex]

b). Sample mean, [tex]$\overline x = 47602.8571$[/tex]

    Sample standard deviation, s = 12684.876

Sample size, n = 7

c). 98% confidence interval = [tex]$\overline x \pm t_c \times \frac{s}{\sqrt n}$[/tex]

                                             [tex]$=47602.8571 \pm 3.143 \times \frac{12684.876}{\sqrt 7}$[/tex]

                                             [tex]$=(32533.96,62671.76)$[/tex]

11. Explain how to evaluate the expression 9 +(45 x 2) = 10.

Answers

The Answer Is 18

Order Of Operation laws says that you must do the parentheses first, 45x2.

45x2=90

The next thing you must do is divide 90 by 10 since division is before addition.

90/10=9

Now combine like terms.

9+9=18

Do Pemdas
45x2=90 divided by 10 equals 9+9=18
Answer is 18

there is a picture. please help!!!!​

Answers

Answer:

the answer should be B becaise just multiply and then round up that is what I got good luck

please answer this for me

Answers

Answer:

A

Step-by-step explanation:

Use the given information below to determine the value of x.
A. 121
B. 180
C. 59
D. 62

Answers

C. Bc it is the only one that makes sense

Check all the answers that represent the same level of precision,
O A. 42
OB. 1.1
O c. 23.45
D. 100.6

Answers

100 Is I was just like oh oh and then you are in the church

Answer:

Step-by-step explanation:

the "answer" below is why the brainly community, most of it atleast is shi

Pears are $1.98 a pounds. How much do 3.5 pounds of Pears cost?

Answers

$6.93 is the answer for your question


A group of hikers starts at an elevation of 2.53 kilometers. When they
stop for lunch, their elevation has increased by 1.24 kilometers. When they
stop to camp, their elevation has decreased by 0.53 kilometer compared to
their lunch stop. Which expressions represent the elevation, in kilometers,
of the group's campsite? Select all that apply.

Answers

483837473939584939494948338

PLEASE HELP!! I CANT GET THIS WRONG YALL HELP.....!!!
GIVING BRAINLIEST

Answers

Answer:

D)6x^4+3x^3y

Step-by-step explanation:I hope this helps,good luck with everything,have a nice day.

A local boys club sold 136 bags of mulch and made a total of $538. It sold two types of mulch: hardwood for $4.25 a bag and pine bark for $3.75 a bag. How many bags of each kind of mulch did it sell?

Answers

Answer:

56  hardwood     80  pine bark

Step-by-step explanation:

H = hardwood    B= pine bark

B +H = 136

B = (136-H)

4.25 H + 3.75 (136-H) = 538

4.25H + 510 - 3.75H = 538

0.5 H = 28

1H = 56   (56 Hardwood)

136-56= 80  

56x 4.25 + 80 x 3.75 = 538

$238 + $300 = $538

What is y = 1/2x-3 on a graph??

Answers

Attached is a graph showing y=1/2x-3

Dajuan is painting a mural on a rectangular
wall. The wall is 14.5 feet long and 10 feet
wide. So far, his mural covers 60% of the wall.
Dajuan will paint the remaining part of the wall
over the next four days. He will paint the same
amount of the wall, in square feet, on each of
those four days. How much of the wall, in
square feet, will Dajuan paint on each of the
next four days? Explain how you arrived at
your answer.

Answers

Answer:

Every day Dajuan will paint 14.5 square feet of the wall.

Step-by-step explanation:

Since Dajuan is painting a mural on a rectangular wall, which measures 14.5 feet long and 10 feet wide, and so far, his mural covers 60% of the wall, and Dajuan will paint the remaining part of the wall over the next four days, painting the same amount of the wall, in square feet, on each of those four days, to determine how much of the wall, in square feet, will Dajuan paint on each of the next four days, the following calculation must be performed:

((14.5 x 10) x 0.4) / 4 = X

(145 x 0.4) / 4 = X

58/4 = X

14.5 = X

Therefore, every day Dajuan will paint 14.5 square feet of the wall.

Leia, Chewy, Han Solo, and Luke have to cross a bridge. They only have one flashlight, and the bridge can only hold two people at a time. They each take a different length of time to get across the bridge. At any time, a group of two can only move as fast as the group's slowest person. The times that it takes each person to cross the bridge are:
Chewy -- ten minutes
Han Solo -- five minutes
Leia -- two minutes
Luke -- two minutes
How can the four get across the bridge the fastest?

Answers

Answer:

luke and han solo

Step-by-step explanation:

because han solo have the most mins and luke is one of thr 2 mins and that added is 7min

In a lab experiment, 490 bacteria are placed in a petri dish. The conditions are such that the number of bacteria is able to double every 6 hours. How long would it be, to the nearest tenth of an hour, until there are 5210 bacteria present?

Answers

Answer:

20.5

Step-by-step explanation:

A student wants to report on the number of movies her friends watch each week. The collected data are below: 2 14 1 2 0 1 0 2 Which measure of center is most appropriate for this situation and what is its value? (4 points) a Median, 1.5 b Median; 3 c Mean, 1.5 d Mean; 3

Answers

Answer:

The best measure of center for a set of data is the median value.

To find the median list the values from

Smallest to largest:

0, 0, 1, 1, 2,2, 2, 14

Since there is an even number of values, find the middle two numbers, add them together and divide by 2:

1+2 = 3

3/2 = 1.5

The answer is median 1.5

Step-by-step explanation:

plz brain list

Which ordered pair is in the solution set of 0.5x - 2y ≥ 3?​

Answers

Answer:

C

Step-by-step explanation:

The answer is c because when 2, -1 is plugged into the equation, you get

.5(2) - 2(-1) >/= 3

when solved -

1 + 2 >/= 3 -

3 >/= 3

and this is in the solution set because three is equal than or greater to three

Two more than the quotient of a number and 3 is equal to 8.

Answers

The equation would be 2+x/3=8
The solution is x=18
Explanation:

I will give you Brainiest if you are right.

Answers

Students 1 and 4. An expression is something that doesn’t have an equal sign

Answer:

Students 1 & 4

Step-by-step explanation:

An expression has NO equal sign, EQUATIONS have equals.

2 & 3 have equals which makes then equations.

~R3V0

Help pls show work if needed

Answers

Answer: The mode is 12

Step-by-step explanation: It is the most common number in the data set.

CAN SOMEONE HELP ME WITH THIS 25 POINTS TY :)

Answers

Answer:

Hello!

Here are the coordinates and a picture example!

Original coordinates: -3, -5

New coordinates: 3, -5

Hope that helps!

given that set C is the negative integers greater than -7, which element of set C are less than or qual to -3? (enter your answer as a comma-separated list

Answers

9514 1404 393

Answer:

  -6, -5, -4, -3

Step-by-step explanation:

Integers greater than -7 include ... -6, -5, -4, ....

Integers less than or equal to -3 include ... -3, -4, -5, ....

The set of integers in the range -7 < n ≤ -3 is ...

  {-6, -5, -4, -3}

What is the measure of ZRCP in the figure below?
P
11
D
350
11
R
A. 35°
B. 55°
C. 11°
D. 60°
E. 70°
F. Cannot be determined

Answers

Step-by-step explanation:

the answer is 35 if he want the degree of c in RCD trangle

and if you want the RCD and The PCD deegrees total its 70

Need help with this problem!!

Answers

Answer:

Area:

4 x 4 = 16

Finding area of semi circle:

4 is your diameter so half of it is your radius which is 2 since half of 4 is 2!

2^2<---your radius being squared = 4

4(radius squared) x 3.14(pi) = 12.56

12.56 divided by 2 since its a semi circle is = 6.28

6.28 + 16 = 22.28 is your area

Perimeter is:

4 + 4 + 4 (all sides of a square are equal therefore one or two given lengths will be all the sides) = 12

Circumference:

Radius is 2,

2(you just always have to multiply this number when finding circumference) x 3.14(pi) x 2(radius), 2 x 3.14 x 2 = 12.56

12.56 divided by 2 = 6.28

6.28 + 12 = 18.28 is your perimeter.

Just a refresh:

Circumference Formula:

2(always use this number when finding circumference) x pi(3.14 or 22/7 depending on what they tell you to use for pi) x radius

Area of a Circle Formula:

Radius squared x pi(3.14 or 22/7 whatever they tell you to use for pi)

Another thing you should remember:

Whenever it gives you 1/4 of a circle or 1/3 or a semi circle or any fraction, REMEMBER TO DIVIDE BY THAT DENOMINATOR TO WHAT YOU GET FROM EITHER CIRCUMFERENCE OR AREA OF A CIRCLE!

Please help me I don’t understand and can you tell me how you got the answer

Answers

Answer:

9

Step-by-step explanation:

to find the whole number of this fraction all you have to do is do the top number divided by the bottom so... 36 ÷ 4 = 9 and we get 9 Hopefully that helps!

Rewrite all three fractions with the lowest common denominator.

Answers

Answer:

[tex] - \frac{2}{4 } = - \frac{16}{32} [/tex]

[tex] - \frac{6}{8} = - \frac{24}{32} [/tex]

[tex] - \frac{13}{32} = [/tex]

remains the same

A-16/32B-24/32 C-13/32

A bakery offers a sale price of $2.80 for 3 muffins. What is the price per dozen?

Answers

Answer: 11.2$

Step-by-step explanation:

Which input-output rules could describe the same function (if any)? Be prepared to explain your reasoning.

Answers

Answer:

Step-by-step explanation:

the 1st and 2nd b/c they are both square the input number  

Please look at the image

Answers

Answer:

[tex]r \geqslant - 5 [/tex]

Step-by-step explanation:

[tex]50 - 4r \leqslant 70[/tex]

[tex] - 4r \leqslant 20[/tex]

[tex] \frac{ - 4r}{ - 4} \geqslant \frac{20}{ - 4} [/tex]

[tex]r \geqslant - 5[/tex]

Please look at the image

Answers

Answer:

[tex]n \leqslant 4[/tex]

Step-by-step explanation:

[tex] - 3n - 5 \geqslant - 17[/tex]

[tex] - 3n \geqslant - 12[/tex]

[tex] \frac{ - 3n}{ - 3} \leqslant \frac{ - 12}{ - 4} [/tex]

[tex]n \leqslant 4[/tex]

Jena has a small jewelry box in the shape of a cube with side lengths of two inches. How much greater is the volume of her large jewelry box with the dimensions 7 inches, 5 inches, and 4 inches?
Plz help no links please

Answers

Answer:

216 cubic inches

Jena's large jewelry box is 132 inches³ bigger than her small cube jewelry box.

What is a cube?

A cube is a three dimensional figure. All of it's sides are equal in length and all the planes of it are perfect square.

Given, length of the each side of Jena's small jewelry box = 2 inches.

Therefore, the volume of the small jewelry box is = 2³ inches³ = 8 inches³.

Again, length of the each side of Jena's small jewelry box are 7 inches, 5 inches, and 4 inches.

Therefore, the volume of the small jewelry box is = (7 × 5 × 4) inches³ = 140 inches³.

Hence, the difference = (140 - 8) inches³ = 132 inches³.

Learn more about cube here: https://brainly.com/question/21270685

#Tag#SPJ2

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