Determining probability of error rate


Assignment:

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?

Your answer must be typed, double-spaced, Times New Roman font (size 12), one-inch margins on all sides, APA format and also include references.

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Basic Statistics: Determining probability of error rate
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