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A production process is known to produce a particular item in such a way that 5% of these are defective. If two items are randomly selected as they come off the production line, what is the probability that the second item will be defective?
What are the advantages and disadvantages of using a Cause and Effect diagram and Pareto Analysis in terms of analyzing quality issues? Respond to at least two of your classmates'
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the importance of the measurtement of market risk for financial institution
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