Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Thomas J. Brock is a CFA and CPA with more ...

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 ...

Reviewed by Eric Estevez It's possible to calculate the standard error in MATLAB by running a one-line command. Standard ...

Lio et al (2010a, b) introduced two single acceptance sampling plans (SASPs) for the percentiles of Birnbaum-Saunders and Burr type XII distribution with a truncated censoring scheme. They assured ...

It's not feasible to contact every member of the population, so only a sample, or a subset, of that population is included when conducting statistical research. The assumption is that the sample is ...