Consumer's risk is the probability of:
A)accepting a good lot.
B)rejecting a good lot.
C)rejecting a bad lot.
D)accepting a bad lot.
E)none of the above

Question

Quizplus · Accepted Answer

Consumer's risk refers to the probability of accepting a bad lot. This means that the consumer takes the risk of receiving a product that does not meet their expectations or specifications. Thus, choice D, accepting a bad lot, is the correct answer.

Consumer's Risk Is the Probability Of