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Defect rate on the mortgages

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Reference no: EM131460148

Clerks at a large mortgage processing company have historically been observed to experience a 4% defect rate on the mortgages that they process. Using p-chart formulas, what are the upper and lower control limits for the defect rate that would be obtained by observing a sample of 100 mortgages.

  • Upper limit is about 10% and Lower limit is about 2%
  • Upper limit is about 10% and Lower limit is zero
  • Upper limit is about 8% and Lower limit is zero
  • Upper limit is about 8% and Lower limit is about 2%

Reference no: EM131460148

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