An Inspection Plan That Judges Products as Acceptable or Unacceptable

question 34

Multiple Choice

An inspection plan that judges products as acceptable or unacceptable, good or bad, is known as

• A) a 100 percent inspection plan.
• B) an attribute inspection.
• C) a variable inspection.
• D) an inspection sampling plan.

---

Definitions:

Covariance

Covariance is a measure indicating the extent to which two random variables change in tandem from their expected values.

Standard Deviation

A statistical measure of the dispersion or variability of a set of data points or investment returns, indicating the degree of risk involved.

Covariance

A metric that quantifies the extent to which two variables change in correspondence with each other.

Correlation Coefficient

A statistical measure that indicates the extent to which two variables change together, showing how one variable's movement is related to another's.