(Answered) Clerks at a large mortgage processing company have

Management Studies

Clerks at a large mortgage processing company have historically been observed to experience a 4% defect rate on the mortgages that they process. Using p-chart formulas, what are the upper and lower control limits for the defect rate that would be obtained by observing a sample of 100 mortgages.

Upper limit is about 10% and Lower limit is about 2%
Upper limit is about 10% and Lower limit is zero
Upper limit is about 8% and Lower limit is zero
Upper limit is about 8% and Lower limit is about 2%

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