Examlex
How do goods differ from services?
Average Run Length
A statistical measure used in quality control that indicates the average number of units processed until a defect is detected.
Control Limits
Boundaries set in process control that indicate the allowable range of variation for a process to be considered in control and functioning correctly.
Standard Errors
A measure of the statistical accuracy of an estimate, reflecting the variability of the sampling distribution.
Type II Error
The mistake of failing to reject a false null hypothesis in a statistical test, also known as a false negative.
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