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If you buy the property you will resell it within six

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Unformatted text preview: two employees missed work on the same day? Is it: (a) 5%, (b) 16%, (c) 30%, (d) 75%, or (e) 99%? (2) Product Defects. Your company produces and sells carabiners, a type of rock climbing gear that is used to connect a climbing rope to a rock anchor. In the past, in a normal lot, 0.05% of the carabiners coming off your production line have been defective, meaning that they are not capable of holding their rated force. While this level is acceptable, one in every hundred lots is not forged properly and if this happens 10% of the carabiners in the lot will be defective. In one lot, a costly check of ten randomly chosen carabiners reveals one is defective. Based on this sample, how likely is it that the lot was not forged properly? Is it closest to: (a) .99, (b) .85, (c) .45, or (d) .01? (3) Purchase...
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