Samples of 2000 Were Taken from an Encoding Machine at a Bank

question 59

Multiple Choice

Samples of 2000 were taken from an encoding machine at a bank over a five-week period.Management is willing to use the historical average for the central line of the chart. Which one of the following would be the limits for an attribute control chart with z = 2?

• A)UCL > 0.010 and LCL > 0.001
• B)UCL > 0.010 and LCL < 0.001
• C)UCL < 0.010 and LCL > 0.001
• D)UCL < 0.010 and LCL < 0.001

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Definitions:

Lump Sum Payment

A one-time payment made specifically rather than multiple smaller payments over time.

Obligations

Duties or responsibilities imposed legally or socially, requiring a person or entity to act or refrain from acting in a certain manner.

Compounded Monthly

Interest on a loan or investment calculated each month and added to the balance, so future interest accrues on a larger total.

Savings

Money set aside for future use rather than spending immediately.