Examlex
When a bank collects a note on behalf of a company, the bank is likely to issue a debit memo.
Control Limits
Statistical boundaries on a control chart that indicate the acceptable range of a process or variation.
Standard Errors
Statistical measures that describe the amount of variability or dispersion for a sample statistic from the population parameter.
Average Run Length
This is a statistical term used to describe the average number of trials until a specified event occurs.
Control Limits
Defined in statistical quality control, control limits are the bounds within which a process metric is considered to be in a state of statistical control, beyond which indicates a potential issue needing investigation.
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