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Why is China's currency undervalued?
Overtime Hours
Hours worked by employees that exceed the standard working hours, often compensated at a higher pay rate.
Statistical Control Chart
A tool used in statistical quality control to monitor, control, and improve the process quality by plotting data points over time and determining whether they fall within a specified control limit.
Labour Efficiency Variance
The deviation in actual labor usage compared to what was expected or budgeted, impacting the cost-efficiency and profitability of production.
Critical Values
Specific points on the scale of a test statistic that determine the threshold for rejecting the null hypothesis.
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