A companys internal accounting standards are set to ensure, Basic Statistics

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A companys internal accounting standards are set to ensure

A company's internal accounting standards are set to ensure that no more than 5% of the accounts are in error. From time to time, the company collects a random sample of accounts and checks to see how many are in error.

If the error rate is indeed 5% and 10 accounts are chosen at random, what is the probability that none will be in error?

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Basic Statistics: A companys internal accounting standards are set to ensure

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