Which of the Following Is Not a Primary Purpose of Statistical

question 97

Multiple Choice

Which of the following is not a primary purpose of statistical process control?

• A)to establish control limits
• B)to detect special cause variations
• C)to identify specification limits
• D)to determine when a process is not in control

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Definitions:

Seasonal Indices

Factors used in time series analysis to adjust predictions for seasonal effects, allowing for more accurate forecasting.

Quarterly Demand

Refers to the amount of goods or services demanded by consumers over a three-month period.

Exponential Smoothing

A forecasting method that uses weighted averages of past observations, with the weights decaying exponentially as the observations get older, to predict future trends.

Alpha

A measure of the active return on an investment compared to a market index, used to assess the performance of an investment such as a stock or portfolio.