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A bank that employs many part-time tellers is concerned about the increasing number of errors made by the tellers.

To estimate the proportion of errors made in a day, a random sample of 400 transactions on a particular day was checked. The proportion of the transactions with errors was computed.

If the true proportion of transactions that had errors was 6% that day, what is the probability that the estimated proportion is less than 5%?

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Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M92182289

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