A Run Test Is Used

question 85

Multiple Choice

A run test is used

• A) to examine variability in acceptance sampling plans
• B) in acceptance sampling to establish control
• C) to examine points in a control chart to check for natural variability
• D) to examine points in a control chart to check for nonrandom variability
• E) none of the above

---

Definitions:

Close Substitutes

Products or services that can easily replace each other in the eyes of the consumer, having a high degree of interchangeability.

Socially Optimal Output

The level of production of goods and services that leads to the maximum possible economic efficiency and welfare in society, considering both benefits and costs.

Ceiling Price

A legally established maximum price that can be charged for a good or service, intended to protect consumers.

Pure Monopolist

A single seller in a market that sells a product for which there are no close substitutes, controlling the entire supply and influencing price.