Statistical Process Control (SPC) Is the Process of Taking Statistical

question 161

True/False

Statistical process control (SPC) is the process of taking statistical samples of product components at each stage of the production process and plotting those results on a graph. Any variances from quality standards are recognized and can be corrected if beyond the set standards.

---

Definitions:

Consolidated Statements

Financial statements that present the financial position and results of operations for a parent company and its subsidiaries as one entity, after removing intercompany transactions.

Financial Statements

Reports that summarize the financial performance and position of a company, including balance sheet, income statement, and cash flow statement.

Financial Affairs

encompasses all activities related to the management of money and investments for an individual or organization.

Operating Influence

A term not commonly used in standard financial or business lexicon and might be confused or conflated with Operating Income, which refers to the profit realized from a business's core operations.