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In an effort to cut costs and improve profits, many US companies have been turning to outsourcing. In fact, according to Purchasing magazine, 59% of
In an effort to cut costs and improve profits, many US companies have been turning to outsourcing. In fact, according to "Purchasing" magazine, 59% of companies outsourced some part of their manufacturing process in the past two to three years. You would like to verify this complaint, and surveyed 452 companies. In calculations and to answer (a) below, round to 4 decimal places. State your answer to (b) as rounded to 3 decimal places. a. What is the distribution of P? P - N b. What is the probability that between 265 and 270 companies outsourced some part of their manufacturing process in the past two or three years
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