Assume that a study of 500 randomly selected airplane routes showed that 482 arrived on time. Select the correct interpretation of the probability of an airplane arriving late. Interpret an event as significant if its probability is less than or equal to 0.05.
Answer: We are given that out of 500 randomly selected airplanes, 482 arrived on time.
Therefore, the probability of airplane being on time [tex]=\frac{482}{500}=0.964[/tex]
And the probability of airplane being late [tex]=1-P(on-time) [/tex]
[tex]=1-0.964=0.036[/tex]
Since the probability of airplane being late is 0.036, which is less than 0.05, therefore the event is significant at 0.036
