A Process Is Said to Be Out of Control If

question 71

Multiple Choice

A process is said to be out of control if

• A)a point falls above the upper or below the lower control lines.
• B)eight or more consecutive points fall above the centre line or eight or more consecutive lines fall below the centre line.
• C)Either of the above.
• D)None of the above.

---

Definitions:

Substitutes

Goods or services that can replace each other in usage, such that an increase in the price of one leads to an increase in demand for the other.

Equilibrium Quantity

The quantity of goods or services supplied and demanded at the equilibrium price in a market.

Equilibrium Price

The price point in the market where the amount of products offered meets the amount of products wanted.

Demand

The level of demand for a good or service that purchasers have the desire and financial ability to acquire at varying prices over a designated period.