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Semenov [28]
3 years ago
14

A company purchases shipments of machine components and uses this acceptance sampling plan: Randomly select and test 26 componen

ts and accept the whole batch if there are fewer than 3 defectives. If a particular shipment of thousands of components actually has a 6% rate of defects, what is the probability that this whole shipment will be accepted?
Business
1 answer:
Inessa [10]3 years ago
7 0

Answer: 0.7973

Explanation:

Binomial probability formula :-

P(x)=^nC_x\ p^x(1-p)^{n-x}, where P(x) is the probability of getting success in x trials , p is the probability of success in one trial and n is the number of trials.

Given : The probability of getting a defect components : 0.06

If randomly select and test 26 components , then the probability that this whole shipment will be accepted will be :-

P(x

Hence, the  probability that this whole shipment will be accepted = 0.7973

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The days' sales uncollected ratio is used to: Multiple Choice Estimate how much time is likely to pass before the amount of acco
olchik [2.2K]

Answer:

The days' sales uncollected ratio is used to:  Estimate how much time is likely to pass before the amount of accounts receivable is received in cash

Explanation:

The days' sales uncollected ratio is an Asset Management ratio which calculates the length of time that it to collect credit from a customer and the first option is correct.

7 0
3 years ago
Delta Insurers typically affirms or denies claims within 120 days after it receives proof of loss statements. Which statement is
laiz [17]

Answer:

Statement A

Explanation:

The 2 statements are:

A: The firm Delta Insurers typically affirms claims within 120 days after it receives proof of loss statements

B: The firm Delta Insurers typically denies claims within 120 days after it receives proof of loss statements

The explanation for this is:

- The company is an insurance company

- An insurance company holds funds for their customers; to be released when the customer is less privileged or in a bad situation, depending on the type of insurance made

- There is car insurance, house insurance, life assurance, etcetera.

- So if the insurance company receives proof of loss statements from the customer, it will release funds to solve the customer's dire need

- In this case, it takes 120 days to verify, process and then agree (affirm) to release funds (claims) to the affected customer.

So the answer is Statement A.

8 0
3 years ago
Rexford Corporation produces three products, with costs and selling prices as follows: Product A Product B Product C Machine hou
Alex787 [66]

Answer:

$9,400

Explanation:

For computing the maximum contribution margin we need to do following calculations

Contribution Margin

Product A = ($12 ÷3) = 4

Product B = ($5 ÷ 1) = 5

Product C = ($9 ÷ 2) = 4.50

So, the ranking order would be product B > product C > product A

Now

Total machine hours available = 2,100 hours

And,

Time for making 500 units of B

= 500 × 1

= 500 hours

For making 500 units of C, the time taken is  

= 500 × 2

= 1000 hours

So the remaining hours left is

= 2,100 hours - 1,000 hours - 500 hours

= 600 hours  

So, for A the manufactured is

= 600 ÷ 3

= 200

And, finally the Maximum contribution margin  is

= (200 × $12) + (500 × 5) + (500 × 9)

= $2,400 + $2,500 + $4,500

= $9,400

7 0
3 years ago
A buyer submits an offer to purchase to the listing agent. He finds out that more than several offers are coming in for the same
zmey [24]

A buyer submits an offer to purchase to the listing agent. He finds out that more than several offers are coming in for the same property. He can expect that all offers will probably be presented at the same time, and the seller will select among them.

Explanation:

In certain situations buyers have to consider multiple rival purchase deals. Sellers will deal with different deals in several ways.

Sellers should consider the "highest" bid; warn all potential buyers that other deals are "at the table;" they can "compare" one offer by put the another offer on the side pending a counter-offer vote, or they can "fight" one offer and refuse the other.

The various bargaining tactics that you can use in multiple deals agreements are advantages and disadvantages. The low initial bid may lead to the purchase of the property you want for less than the quoted price, or may lead to the acceptance of a higher offer from another bidder.

3 0
3 years ago
Question 19 A company just starting in business purchased three merchandise inventory items at the following prices. First purch
Lunna [17]

Answer:

Answer is A. USD 80/-

Explanation:

Using FIFO costing, we get:

  • <u>Gross Profit = Sales - Cost of Goods Sold </u>

COGS (Cost of Goods Sold) for two units,

COGS = First purchase + Second purchase

COGS = $70 + $80

COGS = $150

Sales = $230

  • <u>Calculating the Gross Profit: </u>

GP (Gross Profit) = Sales - Cost of Goods Sold

GP = $230 - $150

GP = $80

7 0
3 years ago
Read 2 more answers
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