SOLUTION: Task 21. Two auditors check the accounts of the company. Each randomly selected 8 accounts. It is known that the probability of an erroneous account among company accounts is 0.05.
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Question 1160049: Task 21. Two auditors check the accounts of the company. Each randomly selected 8 accounts. It is known that the probability of an erroneous account among company accounts is 0.05. What is the likelihood that: a. each auditor finds at least one erroneous account; b. will at least one erroneous account be detected? Answer by Boreal(15235) (Show Source):
You can put this solution on YOUR website! p(a) finding at least 1 is 1-p(finding 0)=1-0.95^8=0.3366
That is the same for b.
They both have to find at least 1, and that is the joint probability of 0.3366^2=0.1133 rounding at end.
Sixteen accounts are checked randomly. The probability of finding at least 1 is 1-p(finding 0)=1-0.95^16=0.5599
This makes qualitative sense in that the probability of both finding at least 1 is more restrictive than just one auditor's finding at least 1.
