Upper Bounds, One Sided Confidence Interval: Online Fashion Store
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An internal control policy for an online fashion accessories store requires a quality assurance check before a shipment is made. The tolerable exception rate for this internal control is 0.05. During an audit, 500 shipping records were sampled from a population of 5,000 shipping records and 12 were found that violated the control. What is the upper bound for a 95% one-sided confidence interval estimate for the rate of noncompliance?
A. 0.0060
B. 0.0067
C. 0.0353
D. 0.0374
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This solution provides step-by-step calculations for finding the upper bound of a confidence interval.
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An internal control policy for an online fashion accessories store requires a quality assurance check before a shipment is made. ...
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