In the table below are selected values for the OC curve associated with the acceptance sampling plan n = 50,c = 1.(Watch out-the points are not evenly spaced. )Assume that upon failed inspection,defective items are replaced.Calculate the AOQ for each data point.(You may assume that the population is much larger than the sample. )Plot the AOQ curve.At approximately what population defective rate is the AOQ at its worst? Explain how this happens.How well does this plan meet the specifications of AQL = 0.0050,α = 0.05;LTPD = 0.05,β = 0.10? Discuss.
Definitions:
Foreign Corrupt Practices Act
A United States law that makes it illegal for U.S. citizens and entities to bribe foreign government officials for business purposes.
Bribery
A corrupt and illegal activity in which a person offers, gives, solicits, or receives money, services, or anything of value to gain an illicit advantage.
Stock-option Backdating
The practice of altering the date of granting stock options to a date when the stock price was lower, to provide a favorable exercise price for the recipient.
Securities Fraud
Deceptive practices in the stock or commodities markets that induce investors to make purchase or sale decisions based on false information, frequently resulting in losses, in violation of securities laws.
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