Homework Answers
Consumer’s Risk: Consumers risk is the risk of accepting poor lot.
Limiting Quality Level (LQL): This is the numerical definition of poor lot associated with a consumers risk
. The ANSI/ASQC A2 (1987) describes LQL as “the percentage of proportion of nonconforming items or number of nonconformities in a batch or a lot for which the consumer wishes the probability of acceptance to be a low value”.
LQL is also called
RQL: rejectable quality level
UQL: Unacceptable quality level
LQ: Limiting quality
Example: explain the meaning of the following. Consumers risk is 10% for a limiting quality level (LQL) of 0.08.
Means: the batches that are 8% nonconforming are poor and we prefer to accept these batches number more than 10% of a time.
For a given good, a consumer's willingness to pay is, by definition, the O same as...
For a given good, a consumer's willingness to pay is, by definition, the O same as the seller's willingness to sell. O amount of cash the consumer has on hand for purchase of the good. O amount the consumer offers at the start of a negotiation. O intensity of the consumer's desire for the good. O maximum price the consumer would pay for the good.
An organization is indifferent between 100% testing of a received lot and detecting defective parts later...
An organization is indifferent between 100% testing of a
received lot and detecting defective parts later in the process
when 17% of the incoming parts are defective.
Their acceptance sampling plan is to accept the lot if two or
fewer items in a sample of 10 are defective.
If the lot actually has 10% defective items, what is the
consumer's risk?
Express as a percent with two decimal places without a percent
sign (e.g. 84.346% would be shown as 84.35)
1. (5 Points) (A)Construct a single sampling plan by attributes that will come close to having a producer's risk of 0.05 at p,-0.01 and a consumer's risk of 0.10 at p,-0.04 (B) Determine...
1. (5 Points) (A)Construct a single sampling plan by attributes that will come close to having a producer's risk of 0.05 at p,-0.01 and a consumer's risk of 0.10 at p,-0.04 (B) Determine the probability of acceptance for the following quality levels under the plan in part (A): P. 0.005 0.020 0.120
1. (5 Points) (A)Construct a single sampling plan by attributes that will come close to having a producer's risk of 0.05 at p,-0.01 and a consumer's risk of...
Idiosyncratic Risk The risk of a security that is associated with random events. The risk that...
Idiosyncratic Risk The risk of a security that is associated with random events. The risk that is specific to one particular investment. All of these. None of these. The risk that can be eliminated by proper diversification. Alaia stock just paid a dividend of $1.20 and the dividend is expected to remain constant. The stock’s required rate of return is 4%. The current risk-free rate is 3%. What is intrinsic value of the stock today?
Epidemiology Scenario: Substance A has an associated increased health risk of 12% and the increased risk...
Epidemiology Scenario: Substance A has an associated increased health risk of 12% and the increased risk associated with substance B is 18%. When studied together, the increased risk associated with being exposed to both substance A in conjunction with substance B is 60%. Question: Is the health risk associated with this combination of substances synergistic? Describe in 10-15 sentence(i.e., Does it demonstrate synergy?)
Describe one example of a poor health outcome that exists in the communicable disease and risk...
Describe one example of a poor health outcome that exists in the communicable disease and risk for infection vulnerable population. Explore the contributing factors. Provide epidemiologic data
Question 17 Which of the following is the best definition of unsystematic risk A risk that...
Question 17 Which of the following is the best definition of unsystematic risk A risk that influences a large number of assets. Also called market risk. A theory showing that the expected return on any risky asset is a linear combination of various factors. Positively sloped straight line displaying the relationship between expected return and beta. Principle stating that spreading an investment across a number of assets eliminates some, but not all, of the risk. A risk that affects at...
Create and demonstrate a matrix of likelihood and magnitude of risk associated with internal control risk.
Create and demonstrate a matrix of likelihood and magnitude of risk associated with internal control risk.
Please Type Answer How might the risk associated with a city bond differ from the risk...
Please Type Answer How might the risk associated with a city bond differ from the risk associated with a General Obligation bond issued by the state? Would a private-activity bond be considered higher risk? Why or why not?
6. What is the risk measure associated with the capital market line (CML)? Beta risk. Unsystematic...
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For a given good, a consumer's willingness to pay is, by definition, the O same as the seller's willingness to sell. O amount of cash the consumer has on hand for purchase of the good. O amount the consumer offers at the start of a negotiation. O intensity of the consumer's desire for the good. O maximum price the consumer would pay for the good.
An organization is indifferent between 100% testing of a
received lot and detecting defective parts later in the process
when 17% of the incoming parts are defective.
Their acceptance sampling plan is to accept the lot if two or
fewer items in a sample of 10 are defective.
If the lot actually has 10% defective items, what is the
consumer's risk?
Express as a percent with two decimal places without a percent
sign (e.g. 84.346% would be shown as 84.35)
1. (5 Points) (A)Construct a single sampling plan by attributes that will come close to having a producer's risk of 0.05 at p,-0.01 and a consumer's risk of 0.10 at p,-0.04 (B) Determine the probability of acceptance for the following quality levels under the plan in part (A): P. 0.005 0.020 0.120
1. (5 Points) (A)Construct a single sampling plan by attributes that will come close to having a producer's risk of 0.05 at p,-0.01 and a consumer's risk of...
Question 17 Which of the following is the best definition of unsystematic risk A risk that influences a large number of assets. Also called market risk. A theory showing that the expected return on any risky asset is a linear combination of various factors. Positively sloped straight line displaying the relationship between expected return and beta. Principle stating that spreading an investment across a number of assets eliminates some, but not all, of the risk. A risk that affects at...
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