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A new machine used in the production of motor mount bolts was put into operation. Five samples of size 100 were randomly selected and the number of defectives in each sample was noted. The measurement of quality is based on ________.
Donation
A gift given by physical or legal persons, typically for charitable purposes and/or to benefit a cause.
Fair Market Value
The price at which property would sell between a willing buyer and a willing seller, each having reasonable knowledge of all relevant facts and not under any compulsion to transact.
Appraised Value
The estimated monetary value of an asset determined by a professional appraiser at a specific point in time.
Depreciated
Refers to the reduction in the recorded value of an asset over time due to wear and tear, obsolescence, or age.
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