Question: 5.A bank has found that when their process for completing loan applications is operating in control, the proportion of applications containing errors is 0.03 (i.e.

5.A bank has found that when their process for completing loan applications is operating in control, the proportion of applications containing errors is 0.03 (i.e. 3%).To monitor the process, the bank plans to take a sample of 20 applications each day and evaluate the proportion of applications in the sample with errors.

Calculate 3 control limits for a p-chart to monitor this process.

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