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In: Statistics and Probability

In an effort to cut costs and improve profits, any US companies have been turning to...

In an effort to cut costs and improve profits, any US companies have been turning to outsourcing. In fact, according to "Purchasing" magazine, 54% of companies surveyed outsourced some part of their manufacturing process in the past two to three years. Suppose 555 of these companies are contacted.

a) What is the probability that 338 or more companies outsourced some part of their manufacturing process in the past two or three years? Write your answer as a percentage rounded to two decimal places.

b) What is the probability that 285 or more companies outsourced some part of their manufacturing process in the past two or three years? Write your answer as a percentage rounded to two decimal places.

c) What is the probability that 48% or less of these companies outsourced some part of their manufacturing process in the past two or three years? Write your answer as a percentage rounded to two decimal places.

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orchestra answered 2 years ago
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