Estimate the number of pistons in the sample


Problem

A machine that manufactures automobile pistons is estimated to produce a defective piston 3% of the time. Suppose that this estimate is correct and that a random sample of 90 pistons produced by this machine is taken.

Estimate the number of pistons in the sample that are defective by giving the mean of the relevant distribution (that is, the expectation of the relevant random variable).

Quantify the uncertainty of your estimate by giving the standard deviation of the distribution.

The response should include a reference list. Using one-inch margins, Times New Roman 12 pnt font, double-space and APA style of writing and citations.

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Accounting Basics: Estimate the number of pistons in the sample
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