In the Textile Industry, a Manufacturer Is Interested in the Number

question 30

Multiple Choice

In the textile industry, a manufacturer is interested in the number of blemishes or flaws occurring in each 100 feet of material. The probability distribution that has the greatest chance of applying to this situation is the

• A)normal distribution
• B)binomial distribution
• C)Poisson distribution
• D)uniform distribution

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Definitions:

Private Firm

A business owned by private individuals or entities, not traded publicly and not owned by the government.

Good

A tangible item or consumable entity that can satisfy a want, need, or desire, making it useful or enjoyable to consumers.

Securities and Exchange Commission

A U.S. government agency responsible for regulating the securities markets and protecting investors by enforcing securities laws.

Regulatory Capture

A situation in which regulatory agencies are dominated by the industries they are supposed to be regulating, often leading to decision-making that benefits the industry at the expense of the public interest.