The Current GDP Price Index Used by Statistics Canada Is

question 168

True/False

The current GDP price index used by Statistics Canada is referred to as the chain-weighted index, because by using both the previous year prices and current prices it links each year to the prior year.

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Definitions:

Average Run Length

In statistical process control, it is the expected number of samples taken until a control chart signals a possible shift in process parameters.

Control Chart

A tool used in process control to monitor, control, and identify the stability of a process over time.

Process

A series of actions or steps taken in order to achieve a particular end.

Statistical Process Control

A method used to monitor, control, and ensure the quality of processes by using statistical methods.