Question: Reconsider the loan application data in Table 7E.2. Set up the fraction nonconforming control chart for this process. Use the standardized control chart approach. Plot

Reconsider the loan application data in Table 7E.2. Set up the fraction nonconforming control chart for this process. Use the standardized control chart approach. Plot the preliminary data in Table 7E.2 on the chart. Is the process in statistical control? Compare this control chart to the one based on variable-width control limits in Exercise 7.5.

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