Standard deviation of the sampling distribution, Business Management

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Standard deviation of the sampling distribution

Using samples of 200 credit card statements, an auditor found the following:

Sample: 1.....2......3......4
Errors: 4.....2......5......9

a. What control limits would give an alpha risk of .03 for this process?

b. What alpha risk would control limits of .047 and .003 provide?

c. Using control limits of .047 and .003 is the process in control?

d. 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?

e. Construct a control chart for the process, assuming a fraction defective of 2 percent, using two-sigma control limits. Is the process in control?

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Business Management: Standard deviation of the sampling distribution

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Business Management: Standard deviation of the sampling distribution

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Business Management: Standard deviation of the sampling distribution

Reference No:- TGS099153

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