The Above Table Shows the Quantity of Patents Reviewed by a Firm's

question 90

Multiple Choice

The above table shows the quantity of patents reviewed by a firm's attorney and the corresponding probability that the firm w infringe on another firm's patent. The cost of infringement is $50,000.
-Refer to the table above. If the attorney reviews 51 patents, what is the expected cost of infringement?

• A)$40,000
• B)- $4,000
• C)$50,000
• D)$4,000

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Definitions:

Process Sampling

The technique of selecting a sample of elements from a process for analysis, to determine the quality or performance of the process.

Acceptance Sampling

A statistical quality control method used to determine whether to accept or reject a batch of products based on a sample of items from the batch.

Process Capability Index

A statistical measure of a process's ability to produce output within specified limits.

C-Chart

A quality control chart used to control the number of defects per unit of output.