Question: URGENT Answer all questions please Question 2 An electronics company is considering the addition of a new product to its line. It currently has 40,000

URGENT Answer all questions please

URGENT Answer all questions please Question 2 An

Question 2 An electronics company is considering the addition of a new product to its line. It currently has 40,000 customers. Management estimates product development costs to be RM1,200,000, which may be assumed to be the overhead costs. Variable manufacturing costs per unit are expected to be RM800, along with variable selling expense of RM100 per unit. Units will be produced on a demand basis. From a market survey, it is estimated that the new product could be priced at RM1500 per unit. Based on previous experience with similar products, market research has come up with estimates of the proportion of existing customers that may purchase the new product and the corresponding probabilities of such happening. Should the company develop the new product? i. Find a single sampling plan that satisfies a producer's risk of 5% for lots that are 1.5% nonconforming (3 Marks) ii. Find a single sampling plan that will satisfy a consumer's risk of 10% for lots that are 8% nonconforming

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