Examlex
How can income elasticity be used to determine whether a good is normal or inferior?
Control Chart
A graph used in process control to study how a process changes over time, displaying data in time order to detect any signs of significant variation.
Control Limits
Statistical boundaries in processes control that identify the extent of allowable variation before corrective actions are taken.
Control Limits
Statistical boundaries in process control used to determine if a process is operating within expected norms.
Sample Size
The number of observations or data points collected in a statistical study, which impacts the study's reliability and the precision of its estimates.
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