The following information is available from the balance sheets at the end of 2012 and 2011 for Riverside Company:
Net income for 2012 and 2011 was $340,000 and $300,000,respectively.Answer the following:
Definitions:
Range Charts
Tools used in statistical process control that display the range of variability in a process over time.
Process Dispersion
The variability or spread in the process output, often resulting from differences in materials, equipment, or operating conditions.
Variables
Elements, features, or factors that are liable to vary or change, often measured, manipulated, or controlled in scientific studies.
Averages
A mathematical concept denoting the central or typical value in a set of data, calculated in various ways such as mean, median, and mode.
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