Which Is a Rule of Thumb to Indicate an Out-Of-Control $\overline { x^ { * } }$

question 34

Multiple Choice

Which is a rule of thumb to indicate an out-of-control process on the $\overline { x^ { * } }$ chart?

• A)Single point outside one sigma
• B)Two of three successive points outside one sigma on the same side of the centerline
• C)Four of five successive points on the same side of the centerline
• D)Nine successive points alternating in sign

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Definitions:

Yield Management

A strategy used in industries with fixed capacities, like airlines or hotels, to maximize revenue through dynamic pricing and inventory control.

Discount Rate

The discount rate applied in the evaluation of discounted cash flow analysis to calculate the current value of future cash flows.

Sold Rooms Percentage

A metric in the hospitality industry that represents the ratio of rooms booked to the total number of available rooms, indicating occupancy rate and hotel performance.

Yield Management

A pricing strategy that aims to maximize revenue by dynamically setting prices based on the supply and demand for a product or service.