Examlex
Define statistically stable (or "within statistical control"). Show examples of run charts which illustrate processes which are not statistically controlled. Discuss the pattern which indicates
the process is not statistically controlled for each example.
Least Squares Line
The line of best fit determined by minimizing the sum of the squares of the differences between observed values and the values predicted by the line.
Predicted Amount
The value estimated based on a statistical model or analysis.
Sales
The exchange of a commodity or service for money; the action of selling something.
Least Squares Regression
A statistical method for estimating the relationship between variables by minimizing the squares of the differences between observed and predicted values.
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