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If a process is in control, less than 0.3% of all the points that represent the process output such as the average measurement or the proportion defective should be beyond the upper and lower control limits.
Compounding Periods
The frequency with which interest is added to the principal balance of an investment, affecting the total interest earned.
Future Value
The value of an investment or a sum of money projected to grow over a specified period of time, often calculated using the interest rate.
Present Value
Present value is the current worth of a future sum of money or stream of cash flows given a specified rate of return, used in time value of money calculations to compare investment options.
Amortized Loan
A loan with scheduled periodic payments that consist of both principal and interest, so the loan is paid off by the end of the term.
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