Assignment:
The assembly line that produces an electronic component of a missile system has historically resulted in a 2% defective rate. A random sample of 800 components is drawn. What is the probability that the defective rate is greater than 4%?
Suppose that in the random sample the defective rate is 4%. What does that suggest about the rate on the assembly line?
Provide complete and step by step solution for the question and show calculations and use formulas.