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April 19, 2014

Homework Help: ECON 2

Posted by Nina on Wednesday, September 19, 2012 at 10:24pm.

False signals. A procedure has been designed that will detect 99% of the defective assemblies in a manufacturing process. However, the probability that the procedure will declare a good assembly defective is 0.05. If 2% of all assemblies are defective, what percentage of the assemblies signaled as defective by the process are really good?

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