Companies Need to Be Vigilant in Product Quality Testing Not

question 38

Multiple Choice

Companies need to be vigilant in product quality testing not simply from an ethical perspective but from a financial one as well. Personal claims and property damage from consumer product safety incidents cost companies more than ________ annually.

• A) $100 million
• B) $2.2 trillion
• C) $300 billion
• D) $500 billion
• E) $700 billion

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Definitions:

Test Statistic

A calculated value used to make a decision regarding a hypothesis test; it measures the degree of agreement between a sample data and the null hypothesis.

Sample Proportion

The ratio of members in a statistical sample that have a particular attribute to the total number of members in the sample.

Null Hypothesis

The null hypothesis is a statement used in statistics that proposes there is no significant difference or effect, serving as the starting point for hypothesis testing.

Alternative Hypothesis

A statistical hypothesis that proposes a difference or effect, contrasting the null hypothesis.