Question

In: Statistics and Probability

You receive 7500 frames from your supplier every week. You sample to General Inspection Level II...

You receive 7500 frames from your supplier every week. You sample to General Inspection Level II and use AQL = 1.0 This supplier has been very good and you have accepted all of the last ten lots. As a result, you are on reduced inspection What is your sampling plan for the next delivery? n = c =

Solutions

Expert Solution

Solution:

n= sample size = 200 according to AQL sampling chart General Inspection level 2 for a lot size of 7500.

c= 5 is the defect acceptence number.

our lot size of 7500 is under the lot size range of (3201 to 10000) as shown in above table, this corresponds to letter 'L' since our inspection level is ll.

Therefore, letter L corresponds to sample size of 200 and acceptance number of 5 because our acceptance quality level is 1.0


Related Solutions

You have just received a batch of goods from your supplier. You plan to sample the...
You have just received a batch of goods from your supplier. You plan to sample the batch in order to determine whether you will accept it or not. For this product, your contract with the supplier specifies that 3.0% is an acceptable quality level and the LTPD is 18.0%. The contract further specifies that the buyer’s risk should be 2.5% and the seller’s risk should be 1.0%. Given these parameters for your sampling plan, what is the least number of...
You are due to receive $500 every 3 months from your parents starting 3 months from...
You are due to receive $500 every 3 months from your parents starting 3 months from the day you were born. If the three-month interest rate is 0.2%, what is the value of these payments on your 18th birthday?
This week you will explore Quality systems, quality control, inspection, quality tools, and quality management. Your...
This week you will explore Quality systems, quality control, inspection, quality tools, and quality management. Your assignment this week is to first choose an industry segment with which you are familiar. That business can be the one in which you are employed or are familiar with with such as: airline transportation; food services; retail outlets; pharmacies, medical or dental services; or any other business you are familiar with. Once you have decide on an industry segment (not a company), research...
You are the manager of an airline that flies from Accra to Kumasi every week with...
You are the manager of an airline that flies from Accra to Kumasi every week with a constant marginal cost . The airline is a local monopoly that carries business and vacation travelers to all major cities in Ghana. If business travelers (those who travel on weekdays) have an elasticity of demand of flight of -2 and the vacation travelers ( those who travel on weekends) is -5, what should your pricing policy be to maximize profit?
You may be following your stock every day, but if you’re not, for Week 8 you...
You may be following your stock every day, but if you’re not, for Week 8 you must: 1. Record the current price of the stock for each company you selected in Week 3’s Stock Journal.You may use any price during this week (e.g., day one price, the opening, the low, the high, the close, or any price you find when you check it during the day). Using MS Excel spreadsheet or MS Word document, put your Week 3 and Week...
You inherited money from a deceased relative. You are entitled to receive $1,463 every quarter for...
You inherited money from a deceased relative. You are entitled to receive $1,463 every quarter for the next ten years. If you could invest right now, you would be able to earn 5%, compounded quarterly. How much is this inheritance worth to you?
You are a Supplier: A retailer requests to purchase supplies on credit from your company. You...
You are a Supplier: A retailer requests to purchase supplies on credit from your company. You have no prior experience with this retailer. The retailer’s current ratio is 2.1, its acid-test ratio is 0.5, and inventory makes up most of its current assets. Do you extend credit? You are the Financial Officer: Your company has a 36% gross margin ratio and a 17% net profit margin ratio. Industry averages are 44% for gross margin and 16% for net profit margin....
You expect to receive $600 every three months beginning fifteen months from today and expect to...
You expect to receive $600 every three months beginning fifteen months from today and expect to receive these payments forever. If the interest rate is 9% EAR, what is this stream of cash flows worth today? (please slso show the resolution using financial calculator)
You receive $4,000 every three months beginning three months from today for 7 years and an...
You receive $4,000 every three months beginning three months from today for 7 years and an additional $1,200 7 years from today. If the interest rate is 3.0% (EAR), which of the following is closest to the present value (PV) of this stream of cash flows? How should I solve this using the hp10bii+ calculator? If you could show me the steps that would be great!
You receive a $1,000 gift from your grandmother when you graduate from college. Your grandmother withdrew...
You receive a $1,000 gift from your grandmother when you graduate from college. Your grandmother withdrew the $1,000 from her checking account and gave you ten $100 bills. You deposit the ten bills into your checking account. Discuss the impact of these transactions on your grandmother's balance sheet, your balance sheet, and the Fed's balance sheet.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT