I think I know how to begin the setup of this problem, but I'm not really sure how to calculate anything. Here is the problem along with what I have figured out so far:
A pharmaceutical company receives a large shipment of aspirin tablets. The acceptance sampling plan is to randomly select and test 15 tablets, then accept the whole batch if there is only one or none that doesn't meet the required specifications. If a particular shipment of thousands of aspirin tablets actually has a 5% rate of defects, what is the probability that this whole shipment will be accepted? (Round the three decimal places as needed).
I think I need to find n, p, and q. I believe n=number of tablets (15), p= the failure rate (.05) and q=non-failure rate (.95). Am I correct with these numbers? If so, how do I use them to compute the probability? That is where I'm confused.
Thank you so much for your help!!!!