Which of the Following Is True of a P-Chart

question 85

Multiple Choice

Which of the following is true of a p-chart?

• A)The lower control limit is found by subtracting a fraction from the average number of defects.
• B)The lower control limit indicates the minimum acceptable number of defects.
• C)The lower control limit equals D₃ times p-bar.
• D)The lower control limit may be at zero.
• E)The lower control limit is the same as the lot tolerance percent defective.

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Definitions:

Price Inelastic

Describes a situation where the demand for a product does not significantly change with a change in its price.

Gasoline Demand

The total quantity of gasoline that consumers are willing and able to purchase at various prices, within a given time period.

Equilibrium Price

The price at which the quantity of a good demanded equals the quantity of the good supplied.

Elastic Supply

A situation where the quantity supplied of a good or service changes significantly in response to changes in price.