After Initial Control Chart Construction, the Third Step to Continue

question 62

Multiple Choice

After initial control chart construction, the third step to continue statistical monitoring of a process is?

• A) Collect samples of size four or five periodically
• B) Plot sample means and ranges on the control charts
• C) If the process trends out of control, investigate the causes and eliminate assignable variations
• D) Ensuring that the process is in control before beginning statistical monitoring

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Definitions:

Emissions Tax

A tax imposed on the emission of pollutants, aimed at reducing the environmental externality costs of these emissions.

Optimal Tax

A tax designed to generate government revenue with the minimum economic distortion or welfare loss.

Marginal Social Cost

The total cost to society of producing an additional unit of a good or service, including both the cost to the producer and the cost of any negative externalities associated with production.

Marginal Social Benefit

Marginal social benefit is the additional gain to society as a whole from producing one more unit of a good or service.