A Random Sample of Items Was Selected from All Items

question 47

Essay

A random sample of items was selected from all items produced in a day of production.Each item was examined to determine if the item conformed to the customer's specifications.This was repeated over 20 days with a sample of 150 items chosen each day.At the end of the 20 days,it was determined that a total of 69 items failed and were declared to be nonconforming.The following chart,which shows the proportion of nonconforming items for each day,was produced. From the chart,what can be said about the process at this point?

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Definitions:

Financing Activities

Transactions and events affecting the long-term liabilities and equity of a company, including issuing debt, repaying loans, and distributing dividends.

Net Cash

The amount of cash that is remaining after all cash inflows and outflows have been accounted for, over a specific period.

Financing Activities

Transactions that result in changes in the size and composition of the equity capital or borrowings of the entity.

Statement Of Cash Flows

A financial statement that provides aggregate data regarding all cash inflows a company receives from its ongoing operations and external investment sources, as well as all cash outflows that pay for business activities and investments during a given period.