When No Point Lies Outside the Control Limits of a Chart,we

question 87

Multiple Choice

When no point lies outside the control limits of a chart,we conclude that variation in the process is:

• A)caused by chance and there is not enough evidence to infer that the process is out of control.
• B)caused by chance and there is enough evidence to infer that the process is out of control.
• C)caused by assignable causes and there is enough evidence to infer that the process is under control.
• D)caused by assignable causes and there is not enough evidence to infer that the process is out of control.

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Definitions:

Equilibrium

A market phase where demand is matched by supply, which in turn stabilizes prices.

Limited Resources

The scarcity of resources in comparison to the potentially limitless wants and needs, forcing the need for allocation decisions.

Capacity Utilization Rate

The percentage of a firm's total possible production capacity that is actually being used over a given period.

Global Economy

The interconnected networks of economic activities, trade, and investment transcending national borders, encompassing the production, distribution, and consumption of goods and services worldwide.