Questions
BRED001 Week 3 Practice Quiz
Numerical
‣Socceroos Ltd manufactures World Cup soccer balls in 2 models: premium and standard. An auditor engaged in a compliance audit of the firm is validating the sales account for April. She has collected 200 invoices for the month. Of the 140 retail invoices, 28 are for the standard model. Of the wholesale invoices, 24 are for the standard model. If the auditor selects one invoice at random, Find the following probabilities that the invoice selected for the premium model and record the probability in percentage You can use the contingency table : Wholesale Retail Total Premium Standard Total
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Step-by-Step Analysis
We start by organizing the data into a contingency framework to separate premium and standard models across sales channels.
Step 1: Determine channel totals
- Retail invoices: 140
- Wholesale invoices: 200 total invoices − 14......Login to view full explanationLog in for full answers
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