Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

Acceptance sampling plans and reliability testing constitute fundamental tools for ensuring product quality and performance. These methodologies allow manufacturers and researchers to assess a lot’s ...

The acceptance sampling plan (ASP) is a statistical tool used in industry for quality control to determine the quality of products by selecting a specified number for testing in order to accept or ...

Overview: This course provides the attendees with the tools needed to understand and implement acceptance sampling. We explain the basis for sampling plans, the binomial distribution, and show how it ...

Originating in the 1920s as a sampling scheme for agricultural regulatory inspectors, the square root (Sqrt) of the lot size (N) + 1 was semiformalized in an unpublished report by the Association of ...