Control charts that are properly constructed and maintained prevent false out-of-control signals and provide a useful method for monitoring a process. Process control is and has been an important ...

Three sigma refers to business application processes that operate efficiently and produce high-quality items. Three sigma limits are used to set the upper and lower control limits in statistical ...

A control chart plots measured values along with upper and lower quality control limits. Values appearing outside these limits are unacceptable and could indicate a manufacturing problem. Although ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

Control chart- a time-ordered plot of sample statistics, used to distinguish between random and nonrandom variability Control limits- the dividing lines between random and nonrandom deviations from ...