A manufacturer of cotter pins knows that 5% of his product is defective. Pins are sold in boxes of 100. He guarantees that not more than 10 pins will be defective. What is the approximate probability that a box will fail to meet the guaranteed quality?
- 0.0140
- 0.0137
- 0.0157
- 0.0130
What is the best approach to solve this question?