59 a Company Randomly Selects 100 Light Bulbs Every Day

question 15

Multiple Choice

59. A company randomly selects 100 light bulbs every day for 40 days from its production process. If 600 defective light bulbs are found in the sampled bulbs then the 3-sigma lower control limit would be

• A) 0.0357
• B) 0.0429
• C) 0.1500
• D) 0.1857

---

Definitions:

Demand Coefficient

A parameter in demand analysis that measures the sensitivity of the quantity demanded of a good to changes in its price or other factors.

Quantity Demanded

The complete quantity of a product or service that customers are prepared and able to buy at a given price.

Elasticity Coefficient

A numerical measure of how much the quantity demanded or supplied of a product changes in response to a change in its price, income level, or other factors.

Total Revenue

The total income received by a firm from the sale of its products or services before any expenses are subtracted.