A Control Chart For $\overline { \mathrm { X } }$

question 54

Essay

A control chart for $\overline { \mathrm { X } }$ is shown below. Determine whether the process mean is within statistical control. If it is
not, identify which of the three out-of-control criteria lead to rejection of a statistically stable mean.

---

Definitions:

Junior Lienholders

Creditors who have claims on a property that are ranked below other debts in terms of repayment priority in case of default.

Collateral

A form of security provided by the borrower to the lender, consisting of property or assets, that can be taken possession of should the borrower fail to repay the loan.

Unconscionability

describes a situation where a contract or clause is so unfair to one party that no reasonable or informed person would agree to it.

Good Faith

Acting with honest intent and without intent to defraud or seek unfair advantage.