Ophelia O'Brien,VP of Consumer Credit of American First Banks (AFB),is designing a p chart to monitor the default rate on personal loans at the AFB member banks. Her data includes the proportion in default for 30 samples of personal loans.Each sample contains 50 loans,and the average of the 30 proportions is 0.05.The lower control limit for Ophelia's p chart is _____________.
A) 0.0000
B) 0.0204
C) 0.0308
D) 0.0149
E) -1.0000

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The Answer of Ophelia O'Brien,VP of Consumer Credit of American First Banks (AFB),is designing a p chart to monitor the default rate on personal loans at the AFB member banks. Her data includes the proportion in default for 30 samples of personal loans.Each sample contains 50 loans,and the average of the 30 proportions is 0.05.The lower control limit for Ophelia's p chart is _____________.
A) 0.0000
B) 0.0204
C) 0.0308
D) 0.0149
E) -1.0000