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QUESTION

A department store made a study of personal checks it received for payment of goods.

A department store made a study of personal checks it received for payment of goods. It discovered that 40% of all bad checks had the wrong date on them, while only 2% of all good checks had the wrong date on them. It also found that 0.5% of all checks received had insufficient funds to cover them. A clerk received a personal check from a customer.

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