Examlex
The net profit margin ratio (Profit ÷ Net Sales) measures how much profit is earned as a percentage of revenues generated during the period.
Nonrandom
Describes a process or selection method that is not determined by chance but possibly by human choice, algorithm, or natural law.
Simple Random Variable
A variable that assigns a numerical value to each possible outcome of a random phenomenon in a simple and straightforward manner.
S Chart
A type of control chart used for monitoring the variability of process data over time, specifically focusing on the standard deviation of the sampled data.
Lower Control Limit
The lowest value within a control chart that serves as a threshold to signal when a process is out of control or requires adjustment.
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