Answer to Question #5185 in Statistics and Probability for SASHA

Question #5185
A company assumes that 0.5% of the paychecks for a month were calculated incorrectly. The company has 350 employees and examined the payroll records from one month. (a) Define the variable of interest. (b) State clearly the appropriate distribution and its parameters. (c) Find the probability of finding one paycheck that was calculated incorrectly. (d) In a given month, how many employees payroll would you expect to be calculated incorrectly?
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