Examlex
In the absorption costing income statement,deduction of the cost of goods sold from sales yields contribution margin.
X-bar
A statistical term representing the average or mean value of a set of data, commonly used in quality control processes.
R-chart
A tool in statistical process control that displays the variation among different samples to assess the stability of processes.
Control Limits
Statistical boundaries within a control chart that distinguish between random variation from the process and variation due to changes in the process.
Average Range
A statistical measure used to establish the central tendency or typical value of a set of numbers, calculated as the difference between the highest and the lowest values in a dataset.
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