Question: In an effort to cut costs and improve profits, many U.S. 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 565 of these companies are contacted.
a. What is the probability that 339 or more companies outsourced some part of their manufacturing process in the past two to three years?
b. What is the probability that 288 or more companies outsourced some part of their manufacturing process in the past two to three years?
c. What is the probability that 50% or less of these companies outsourced some part of their manufacturing process in the past two to three years?