A Single-Sampling Plan by Attributes Is Needed for a Purchased

question 47

Multiple Choice

A single-sampling plan by attributes is needed for a purchased component. Given the following information, what is the consumer's risk? Table G.1 is appended to this exam. Sample size = 75
Acceptance number (c) = 3
Acceptance quality level (AQL) = 0.01
Lot tolerance proportion defective (LTPD) = 0.05

• A) .46
• B) .48
• C) .50
• D) .52

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Definitions:

Working Capital

The difference between a company's current assets and current liabilities, indicating the short-term financial health and efficiency.

Current Assets

Assets that are expected to be converted into cash, sold, or consumed within one year or a business's operating cycle, whichever is longer.

Current Liabilities

Obligations or debts due for payment within one year.

Current Ratio

A financial ratio indicating how well a company can settle short-term debts with its available assets.