A cell phone manufacturer inspects the video display on each color phone to verify that the screen can display all colors with t
he brilliance their customers have come to expect. Each phone is turned on, run through a self-test procedure, and classified as either acceptable or unacceptable based on test performance. Based on historical data, the manufacturer produces 0.1 percent defective displays. If they inspect 5000 phones each day for the next 10 days, what are the upper and lower control limits for their control chart if their sample mean mirrors their historical process average?
The statement, "Dewy Cheatum encourages his employees to create and use legal loopholes to gain a competitive advantage. In keeping within the legal limits of the law, the employees are within their compliance-based ethics rights." is True
To insure that the company and its staff comply with all laws and regulations correctly, a compliance-based code of ethics is established. The avoidance, identification, and deterrence of non-compliant actions are three key elements. There was a misunderstanding. Ethical codes are critical of compliance-based codes.
The ethics and conformity of the coin are essentially different. Compliance follows the law, while ethics is valid independent of the law. The government needs compliance. You have to cooperate. Ethics, though, is something that you decide to take into consideration as you act.
The statement "low average total costs are obtained only through large-scale production" defines the Economics of Scale
Large scale production:
Large scale production means the production of a commodity on a large scale with a large sized firm and it requires huge investments in plant and machinery.
In the natural gas industry, low average total costs are obtained only through large-scale production. In other words, the initial cost of setting up all the necessary pipes and hoses makes it risky and, most likely, unprofitable for competitors to enter the market.
Here we need to define the concept that used here.
In the given question, they state that the low average cost of the product is happen when the production is larger. In this stage the profit is low.
While we looking these definition, we have identify that it will explain the scale of the economy.