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When a control chart is first developed,if the process is found to be out of control,
Smoothing Constant
A parameter used in exponential smoothing methods that determines the level of smoothing applied to the data.
Seasonal Variation
Fluctuations in data or economic activity that occur regularly based on the season or time of year.
Time Series
It is a sequence of data points indexed in time order, often used to analyze and predict future events based on past trends.
Moving Average
A calculation to analyze data points by creating averages of different subsets of the complete data set.
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