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 ...

Many types of control charts have an ability to detect process changes that can weaken over time depending on the past data observed. This is often referred to as the "inertia problem." We propose a ...

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 ...

This is a preview. Log in through your library . Abstract THE number of rejections can be reduced or, in many cases, trouble can be spotted in the production process before rejections occur, so that ...

Quality control (QC) on an oil rig is the disciplined prevention and early detection of defects in materials, equipment, data, and execution to protect well control, well integrity, people, and ...