A Small,independent Amusement Park Collects Data on the Number of Cars

question 142

Essay

A small,independent amusement park collects data on the number of cars with out-of-state license plates.The sample size is fixed at n=25 each day.Data from the previous 10 days indicate the following number of out-of-state license plates:
(a)Calculate the overall proportion of "tourists" (cars with out-of-state plates)and the standard deviation of proportions.
(b)Using ±3σ limits,calculate the LCL and UCL for these data.
(c)Is the process under control? Explain.

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Definitions:

Operating Cash Flow

The cash generated from a company's regular business operations, indicating its ability to cover operational costs and make new investments.

Variable Cost

Expenses that vary depending on the amount of products or services a company generates.

Fixed Costs

Costs that remain constant irrespective of the level of production or sales, including expenses like rent, salaries, and insurance.

Variable Cost

Expenses that vary depending on the amount of products or services a company generates.