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Business Statistics, 3rd Edition
book

Business Statistics, 3rd Edition

by Naval Bajpai
April 2024
Intermediate to advanced content levelIntermediate to advanced
921 pages
37h 16m
English
Pearson India
Content preview from Business Statistics, 3rd Edition
Chapter 17
PB
Statistical Quality Control
737
Suppose that the water pump manufacturing company decides to accept a lot with 0.02
non-conforming items. From Table 17.12, the probability of accepting the lot with 0.02 non-con-
formance is given by 0.7093. So, the probability of rejecting the lot is (1 – 0.7093 = 0.2907).
Hence, this probability is the producer’s risk. Suppose 10% items in the lot do not con rm to
standards. From Table 17.12, the probability of accepting the lot with 0.10 as the proportion of
non-conformance is given by 0.1667. This probability is the consumer’s risk. Figure 17.26 exhib-
its the producer’s risk and consumer’s risk ...
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Publisher Resources

ISBN: 9789390168996