[All Steps] Consider the following acceptance-sampling procedure. When a lot comes in, a sample of size equal to 1% of the size of the lot is randomly chosen.
Question:
Consider the following acceptance-sampling procedure. When a lot comes in, a sample of size equal to 1% of the size of the lot is randomly chosen. If at most 2% of the sample is defective then the lot is accepted, otherwise the lot is rejected.
A manufacturer claims that exactly 2% of a shipped lot of size 10,000 is defective. In reality, the lot actually has 300 defective items.
- What is the probability that the lot is rejected by the above acceptance-sampling procedure?
- What is the maximum number of defective items the lot can have to keep the probability that the lot will be rejected by the above acceptance-sampling procedure under 5%?
Deliverable: Word Document 
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