A sC60:G100ecretarial service found that 90% of their invoices are paid promptly (within 10 days). A random...

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Part aSuccess S invoices are paid promptly within 10daysFailure F invoices are not paid promptlyPart bn is See Answer

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AsC60:G100ecretarial service found that 90% of their invoices arepaid promptly (within 10 days). A random sample of 12 invoices ischecked. Use this situation to answer the parts below.
(a)	Recognizing thatthis is a binomial situation, give the meaning S and F in thiscontext. That is, define what you will classify as a \"success\" andwhat you will classify as a \"failure\" when one invoice is selectedand checked to see if it was paid promptly.


	S =	invoices paid within 10days
	F =	invoices paid after 10days

(b)	Next, give the values of n, p,and q.
	n =	p =	q =

(c)	Construct the completebinomial probability distribution for this situation in a table outto the right.


(d)	Using your table, find theprobability that exactly eight of twelve randomly selected invoiceswere paid promptly.


(e)	Find the probability that atleast eight of the twelve were paid promptly.


(f)	Find the probability thatfewer than six were paid promptly.


(g)	Find the mean and standarddeviation of this binomial probabilitydistribution.Â Â



(h)	By writing asentence, interpret the meaning of the mean value found in (g) astied to the context of invoices being paid promptly.





(i)	Is it unusual tohave all twelve invoices be paid promptly? Briefly explain youranswer giving supporting numerical evidence. (Hint: 2 SigmaRule)