Could I please ask someone for either help how to do this or tell me what exactly this problem is called so I can look up the formula. I promise after I am done w/this Stats course to NEVER enter your domain again, that being the domain of the Stats/Calc world. I have already done this type of problem quite a few times but I have so many notes, and they all look the same, I am getting totally confused.
A manufacturer of electronic appliances purchases small hybrid circuit boards from an outside vendor. The circuits are shipped in large lots, with several thousand circuit boards per lot. When each lot is received, a random sample of 30 of the circuit boards is selected and tested to see if the circuitry performs correctly. If more than 5 of the circuit boards in the sample fail the testing, then the manufacturer rejects the entire lot and ships it back to the vendor. Suppose that 8% of the circuit boards in a newly shipped lot are defective. Using the sampling plan described above, calculate the probability that this lot will be accepted by the appliance manufacturer. Round your answer to at least three decimal places.
Thank you for any help. Believe me, I am not just pasting these on this site, I am looking at them for what seems like an eternity w/no clue how to redo them again.
My promise: I WILL NEVER ENTER THE KINGDOM OF STATS AGAIN WHEN I AM THROUGH WITH THIS COURSE.