To Monitor the Number of Blemishes on a Polished Surface

question 72

Multiple Choice

To monitor the number of blemishes on a polished surface a company randomly selects 10 units of output from its process and counts the number of blemishes on each unit. The sample results are shown below Given the sample information above, the average number of defects per unit for this process would be

• A) 160
• B) 80
• C) 16
• D) 10

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Definitions:

Equilibrium Price

The market price at which the quantity supplied of a good equals the quantity demanded, leading to a stable market condition.

Quantity Supplied

The amount of a good or service that producers are willing and able to sell at a given price during a specific period.

Production Costs

Expenses incurred in the process of creating a product or service, including raw materials, labor, and overheads.

Substitute Goods

Products or services that can replace each other in use, serving the same purpose, leading consumers to switch based on changes in price, availability, or preferences.