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:
Cash Ratio
A liquidity metric that measures a company's ability to pay off short-term liabilities with its cash and cash equivalents.
Debt/Equity Ratio
An index reflecting financial leverage through a company's total debts divided by the equity of its shareholders.
Financial Statement Analysis
The process of examining financial statements to assess a company's financial health and make investment decisions.
GAAP
Generally Accepted Accounting Principles, a set of accounting standards and practices used to prepare financial statements.
Q25: Which of the following statements regarding PERT
Q76: Within environmental regulation,the "cap-and-trade" principle essentially allows
Q81: Quality circles empower employees to improve productivity
Q90: What technology "builds" products by laying down
Q92: Activity D on a CPM network has
Q101: If 1 million passengers pass through the
Q109: A project organization that becomes permanent is
Q112: To become ISO 9000 certified,organizations must:<br>A)document quality
Q118: What is the forecast for May using
Q141: A normal distribution is generally described by