An Chart Is Being Developed Using 15 Samples of Size

question 42

Multiple Choice

An chart is being developed using 15 samples of size 9 each.The average of 15 sample means is 6.20.The average of the 15 ranges is 0.30.The lower control limit is _______________.

• A)6.301
• B)6.267
• C)6.133
• D)6.099
• E)6.312

---

Definitions:

Currency

The system of money in common use in a country, which facilitates the exchange of goods and services.

Liquid Asset

An asset that can easily be converted into cash in a short period without losing value.

Function Of Money

Refers to the main roles of money in an economy, which include being a medium of exchange, a unit of account, a store of value, and sometimes, a standard of deferred payment.

Functions Of Money

Money serves as a medium of exchange, a measure of value, a standard of deferred payment, and a store of wealth.