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A manager in the billing section of a mobile phone company checks on the proportion of customers who are paying their bills late. Company policy dictates that this portion should not exceed 20 percent. Suppose that the protion of all invoices that were paid late is 20 percent. In a random sample of 140 invoices, determine the probability that more than 28 percent invoices were paid late.

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Accounting Basics, Accounting

Category:- Accounting Basics
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