Quality ControlThe General Standard Company can use information about a large sample of its faucets…

Quality Control

The General Standard Company can use information about a large sample of its faucets to compute the empirical probability that a faucet chosen at random will function properly (not leak) for 3 years. Of a sample of 12,316 faucets produced in 2007, 137 were found to fail within 3 years. Find the empirical probability that any faucet the company produces will work properly for 3 years.