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James offers you $1,000 today or $X in 7 years.If the interest rate is 4.5 percent,then you would prefer to take the $1,000 today if and only if
P Chart
A type of control chart used for monitoring the proportion of defective items in a sample over time in quality control processes.
Sample Proportion
The fraction or percentage of the sample that has a particular trait or characteristic of interest.
Control Limits
Statistical boundaries in process control that indicate the acceptable range of process variation.
Centerline
The midpoint value in a control chart that represents the average performance of the process being studied.
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