Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Using samples of 194 credit card statements, an auditor found the following: Use Table-A. a. Determine the fraction defective in each sample. (Round your answers

image text in transcribed

Using samples of 194 credit card statements, an auditor found the following: Use Table-A. a. Determine the fraction defective in each sample. (Round your answers to 4 decimal places.) b.If the true fraction defective for this process is unknown, what is your estimate of it? (Round your answer to 1 decimal place. Omit the "\%" sign in your response.) Estimate % c. What is your estimate of the mean and standard deviation of the sampling distribution of fractions defective for samples of this size? (Round your intermediate calculations and final answers to 4 decimal places.) d.What control limits would give an alpha risk of .03 for this process? (Round your intermediate calculations to 4 decimal places. Round your "z" value to 2 decimal places and other answers to 4 decimal places.) z= to f.Using control limits of .0470 and .0174 , is the process in control? no yes g.Suppose that the long-term fraction defective of the process is known to be 2 percent. What are the values of the mean and standard deviation of the sampling distribution? (Round your intermediate calculations and final answers to 2 decimal places.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Successful Project Management

Authors: Jack Gido, Jim Clements

4th Edition

9780324656152, 324656130, 978-0324656138

More Books

Students also viewed these General Management questions