A control chart begins with a time series graph. A central line (X) is added as a visual reference for detecting shifts or trends – this is also referred to as the process location. Upper and lower ...

The extent to which products meet specifications needs to be systematically monitored in a production process. Product quality will typically be defined by two quantities: deviations from stated ...

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 ...

Control charts have been widely used for monitoring production processes and identifying assignable causes of variability. Many papers investigate the application of control charts in different ...

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 ...