Despite a series of quality checks by a company that makes television sets, there is a probability of 0.07% that a newly purchas
ed television set does not work properly. If the company sells 250,000 television sets per year, estimate the probability that there will be less than 200 unsatisfied customers in a given year. Compare this value to the exact probability as calculated using a binomial cdf.
Given that despite a series of quality checks by a company that makes television sets, there is a probability of 0.07% that a newly purchased television set does not work properly.
