A large industrial firm a lousy discount on any new invoices paid within 30 days

Question

A large industrial firm a lousy discount on any new invoices paid within 30 days. Of all invoices, 10% receive the discount. In a company audit, 15 invoices are sampled at random. The mean of the number of the 15 sample invoices that receive discount is ____? A large industrial firm a lousy discount on any new invoices paid within 30 days. Of all invoices, 10% receive the discount. In a company audit, 15 invoices are sampled at random. The mean of the number of the 15 sample invoices that receive discount is ____?

Explanation / Answer

Solution:- The mean of the number of the 15 sample invoices that receive discount is 1.5.

p = 10/100

p = 0.10

n = 10

E(x) = n × p

E(x) = 15 × 0.10

E(x) = 1.5

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