Question 929862: A company reports that 15% of its accounts receivables are overdue. If an auditor takes a random sample of 8 accounts, what is the probability that no more than two account in the sample will be overdue? (Use Binomial Distribution with cumulative probability)
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! A company reports that 15% of its accounts receivables are overdue. If an auditor takes a random sample of 8 accounts, what is the probability that no more than two account in the sample will be overdue? (Use Binomial Distribution with cumulative probability)
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Binomial Problem with n = 8 and p(overdue) = 0.15
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P(0<= x <=2) = binomcdf(8,0.15,2) = 0.8948
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Cheers,
Stan H.
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