Examlex
The price elasticity of supply of a product is the percentage change in the quantity of a good or service supplied divided by the percentage change in its price.
Control Limits
The boundaries in a control chart beyond which points indicate a statistical process is out of control.
Standard Errors
Measures of the statistical accuracy of an estimate, indicating the variability of an estimate from sample to sample.
Control Chart
A tool used in statistical quality control to monitor, control, and identify whether a manufacturing or business process is in a state of statistical control.
Control Limits
Control limits are statistical boundaries set in quality control processes to identify when a process is out of control or exhibits unusual variability.
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