TABLE 12-10
One criterion used to evaluate employees in the assembly section of a large factory is the number of defective pieces per 1,000 parts produced. The quality control department wants to find out whether there is a relationship between years of experience and defect rate. Since the job is repetitious, after the initial training period any improvement due to a learning effect might be offset by a loss of motivation. A defect rate is calculated for each worker in a yearly evaluation. The results for 100 workers are given in the table below.
-Referring to Table 12-10, what is the expected number of employees with 1 to 4 years of training time and a high defect rate?
Definitions:
Current Ratio
A liquidity ratio that measures a company’s ability to cover its short-term liabilities with its short-term assets.
Inventory Turnover
A ratio that measures how many times inventory is sold and replaced over a certain period, used to evaluate the efficiency of a company's inventory management.
Average Collection Period
The average number of days it takes for a company to receive payments owed by its customers.
Collection Policies
Guidelines established by a business to manage the collection of accounts receivable or debts owed to it.
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