A Small,independent Amusement Park Collects Data on the Number of Cars

question 128

Essay

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:

Temporary Differences

Differences between taxable income and accounting income, due to items being recognized in different periods for tax and accounting purposes.

Taxable Income

The amount of income used to calculate how much tax an individual or a company owes to the government in a given tax year.

Pretax Financial Income

Income of a company before taxes are deducted, as reported in its financial statements.

Deferred Tax Liability

A tax obligation due in the future for income that has been recognized in the financial statements but not for tax purposes.