Question: Excercise 8.5 Chapter 9 Exercises Over one six month period, the bank recorded, on a weekly basis, errors per thousand items processed in all types

Excercise 8.5
Excercise 8.5 Chapter 9 Exercises Over one six
Chapter 9 Exercises Over one six month period, the bank recorded, on a weekly basis, errors per thousand items processed in all types of collection transactions. The resulting 26 numbers were as follows: 0,2,0, 17, 2, 4,0,2,1,0,0,5, 6, 5, 15, 5, 10, 5, 2, 2,0,2,0,0,0,1. The Bank Administration Institute reports that the average error rate for such transactions is 1.5%. Using z=3, what is the Upper Control Limit (UCL) for this process (oz, show 4 decimal places)? HINT

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