Exercise 3F1: np-Chart Problem (5 Points). Muncie Insurance Company (MIC) is concerned that too many of its policies may be rated incorrectly for risk. MIC's management has asked you to review the past 12 months of policy applications to establish a policy rating process control chart. One hundred policies are sampled from each of the past 12 months. Develop the appropriate control chart to monitor policy rating errors. Explain whether the policy rating process is or is not in control. Assume 3 sigma control limits. Truncate calculations at 2 decimal places. Month Number 11 12 Policy Rating Errors 12 14 17 20 21 24 np-Chart 25 20 15 10 5 0 1 2 3 4 5 6 7 8 9 10 11 12