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You throw a stone vertically upward,and it feels no air resistance.Once it is free of your hand but moving upward,the two forces acting on it are the downward pull of gravity and the upward force due to its motion.
Statistical Control Chart
A tool used in statistical quality control to monitor, control, and improve the process quality by plotting data points over time and determining whether they fall within a specified control limit.
Labour Efficiency Variance
The deviation in actual labor usage compared to what was expected or budgeted, impacting the cost-efficiency and profitability of production.
Critical Values
Specific points on the scale of a test statistic that determine the threshold for rejecting the null hypothesis.
Material Price Variance
The difference between the actual cost of materials used in production and the expected cost based on standard pricing.
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