Question: 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.

A bank has found that when their process for

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 30 control limits for a p-chart to monitor this process

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