TABLE 18-6
the Maker of a Packaged Candy Wants

question 25

Short Answer

TABLE 18-6
The maker of a packaged candy wants to evaluate the quality of her production process. On each of 16 consecutive days, she samples 600 bags of candy and determines the number in each day's sample that she considers to be of poor quality. The data that she developed follows.
$\begin{array}{lll}\text { Day }&\text { Number Poor}&\text { Proportion Poor }\\\hline1 & 33 & 0.0550000 \\ 2 & 29 & 0.0483333 \\3 & 31 & 0.0516667 \\4 & 32 & 0.0533333 \\5 & 43 & 0.0716667 \\6 & 45 & 0.0750000 \\7 & 46 & 0.0766667 \\8 & 48 & 0.0800000 \\9 & 48 & 0.0800000 \\10 & 46 & 0.0766667 \\11 & 28 & 0.0466667 \\12 & 32 & 0.0533333 \\13 & 28 & 0.0466667 \\14 & 32 & 0.0533333 \\15 & 31 & 0.0516667 \\16 & 24 & 0.0400000\end{array}$

-Referring to Table 18-6, the estimate of the proportion of poor quality bags of candy is_______

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Definitions:

Economic Gains

Economic gains refer to the increase in economic benefit, usually measured in terms of profit, productivity, or market share, achieved through various economic activities.

Economic Losses

Financial deficits that occur when expenses exceed revenues, or due to lost opportunities, inefficiencies, or unexpected market changes.

Chronic Budget Deficits

A fiscal situation where a government consistently spends more than it receives in revenue over a long period, leading to accumulating debt.

Spending Priorities

The allocation decisions made by an individual, organization, or government regarding where to allocate available financial resources among various competing needs or interests.