Examlex
Why would an organization use the balanced scorecard and focus its metrics on more than just financials?
R-chart
A control chart used for monitoring the range of variability within a process.
Defect Rate
The percentage of produced items within a specific period that fail to meet quality standards or are faulty.
Control Limits
Statistical boundaries within a control chart that signal when a process is out of control and corrective action may be needed.
P-bar
The average proportion of units in a sample that exhibit a particular characteristic, used in quality control processes.
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