You Want to Determine the Lower Control Line for a P-Chart

question 31

Multiple Choice

You want to determine the lower control line for a p-chart for quality control purposes.You take several samples of a size of 50 items in your production process.From the samples, you determine the fraction defective is 0.006 and the standard deviation is 0.001.If the desired confidence level is 99.7 percent, which of the following is the resulting LCL value for the line?

• A)0.0
• B)0.002
• C)0.003
• D)0.004
• E)None of these

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Definitions:

Financial Statement Column(s)

Columns in financial statements where various financial data are reported, such as assets, liabilities, revenues, and expenses.

Net Income

The net income of a company once all costs and taxes are subtracted from the total income.

Beginning Inventory

The estimated financial value of items ready to be sold at the onset of a ledger year.

Balance Sheet

A financial statement that provides a snapshot of a company's financial condition at a specific moment, showing assets, liabilities, and shareholders' equity.