Statistical Process Control Charts

question 220

Multiple Choice

Statistical process control charts:

• A) display the measurements on every item being produced.
• B) display upper and lower limits for process variables or attributes and signal when a process is no longer in control.
• C) indicate to the process operator the average outgoing quality of each lot.
• D) indicate to the operator the true quality of material leaving the process.
• E) are a graphic way of classifying problems by their level of importance, often referred to as the 80-20 rule.

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Definitions:

Cost of Funds

The interest rate that banks and other financial institutions pay for the use of funds deposited in their accounts by savers or obtained from other external sources.

ROI

Return on Investment, a financial metric used to measure the efficiency or profitability of an investment.

Net Income

The total profit of a company after all expenses, taxes, and costs have been subtracted from total revenue, indicating the company's financial health over a period.

Available Assets

Resources or possessions that an organization or individual has at their disposal and can use whenever needed.