TV warranties by company. RTINGS.com published an article on February 22, 2021 regarding TV warranties and the
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TV warranties by company. RTINGS.com published an article on February 22, 2021 regarding TV warranties and the proper care of TV sets. The article stated that companies charge TV insurance based on the total projected failure rate of the TV model. Therefore, if a company is insuring 1,000 of their TVs, they expect 50 TV sets to break. Use the hypergeometric distribution to answer the following:
a. In a random sample of 500 of the 1,000 TVs, how many does the company expect to break? Interpret this result.
b. Find the probability that 30 of the 500 selected TVs will break.
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Related Book For
Statistics For Business And Economics
ISBN: 9781292413396
14th Global Edition
Authors: James McClave, P. Benson, Terry Sincich
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