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Historical Working Papers

Series

1995

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Full-Text Articles in Business

An Economic Analysis Of Inspection Costs For Failsafing Attributes, John R. Grout, Brian T. Downs Jan 1995

An Economic Analysis Of Inspection Costs For Failsafing Attributes, John R. Grout, Brian T. Downs

Historical Working Papers

Modeling is used to explore the costs of inspection relative to other costs in the ZQC domain. Results show that the failsafing or the necessary inspection needed for 100% inspection must be relatively low with respect to repair costs or traditional inspection.