A major shipping company has stated that 96 percent of all parcels are delivered on time. To check this, a random sample of n = 200 parcels were sampled. Of these, 184 arrived on time.
If the company's claim is correct, what is the probability of 184 or fewer parcels arriving on time?A) About 0.0019
B) Nearly 0.24
C) Just over 0.98
D) About 0.4981
Question 2
The loan manager for State Bank and Trust has claimed that the mean loan balance on outstanding loans at the bank is over 14,500. To test this at a significance level of 0.05, a random sample of n = 100 loan accounts is selected.
Assuming that the population standard deviation is known to be 3,000, the value of that corresponds to the critical value is approximately 14,993.50. Indicate whether the statement is true or false
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