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.
Definitions:
Journalized
Refers to the act of recording financial transactions in the company's journal as part of the accounting process.
Accounting Period
A specific duration of time used by businesses for financial reporting and accounting purposes, such as a month, quarter, or year.
Date
A specific point in time that may refer to a day, month, and year, often used in documentation and scheduling.
Insurance Account
An account used to track payments for insurance policies and the portion of the premium that has been used (expired) or is still in effect (unexpired).
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