Examlex
Although the replacement chain approach is appealing for dealing with mutually exclusive projects that have different lives,it is not used in practice because not projects meet the assumptions the method requires.
R-chart
A type of control chart used to monitor the range of variability within a process over time.
Central Limit Theorem
A statistical theory stating that the distribution of sample means approximates a normal distribution as the sample size becomes larger, regardless of the population's distribution.
Normal Distribution
A statistical distribution where data forms a symmetrical bell-shaped curve around the mean, representing how many natural phenomena are distributed.
Attribute Inspection
An inspection that classifies items as being either good or defective.
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