This OC Curve Represents a Sampling Plan Developed for a Lot

question 77

Multiple Choice

This OC curve represents a sampling plan developed for a lot size of 500,a sample size of 15,and an acceptance number of 2.The probability of acceptance for each of the first six points appears next to the plotted point.What is the average outgoing quality for an incoming fraction defective of 0.15?

• A)less than 0.06
• B)greater than or equal to 0.06 but less than 0.07
• C)greater than or equal to 0.07 but less than 0.08
• D)greater than or equal to 0.08

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Definitions:

Full Employment

This term refers to the condition where all available labor resources are being used in the most economically efficient way, with no involuntary unemployment.

Production Possibilities Curve

A graph that shows the different quantities of two goods that an economy can produce with fixed resources and technology.

Human Economic Wants

Desires that require resources to satisfy, emphasizing the economic aspect of needs and desires.

After-Tax Income

The amount of net income left after all taxes have been deducted.