About This Chapter
Using Control Charts in Business - Chapter Summary
Check out this business chapter to study the application of control charts in business. Inside the chapter, you'll find short and simple lessons that examine control chart-related topics, including statistical process control, rational sub-grouping and more. Take the accompanying lesson quizzes and chapter exam to make sure you fully grasp these control chart topics. The online format of this chapter allows you to study wherever and whenever it's convenient, and you can submit questions to our instructors if you need any help. By the end of the chapter, you should be able to:
- Define the statistical process control method
- Use rational sub-grouping to control process
- Identify control charts for attributes and variables
- Recognize control chart patterns
1. Statistical Process Control: Definition & Examples
One goal of business is to deliver a consistent product. But what happens when there are variations in the product a business is producing? In this lesson, we'll examine the statistical process control method of dealing with variations.
2. Using Rational Sub-Grouping to Control Process
A good process should result in reliable, homogeneous outputs consistent with the company's goals. A rational sub-group is a process control method that evaluates outputs for their degree of variance.
3. What Are Control Charts for Attributes?
Sometimes, businesses want to track how well something works over a period of time. When this need arises, many turn to control charts for attribute data. Watch this lesson to find out what types of control charts are good for attribute data.
4. What Are Control Charts for Variables?
It's important for companies to understand how elements of their business change over time. One way to do that is to construct a control chart. Watch this lesson to find out more about control charts for variables and how they can be used.
5. Identifying Patterns on Control Charts
Control charts can be valuable for businesses to assess how they are doing, but how do you interpret them? In this lesson, we'll examine common patterns that can be identified when examining control charts.
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Other chapters within the Business 212: Business Statistics course
- Introduction to Business Statistics
- Introduction to Categorical Data
- Descriptive Statistics: Measurement
- Descriptive Statistics: Representation
- Measures of Dispersion in Business
- Measures of Association & Correlation in Business
- Probability for Business Statistics
- Probability Distributions for Business Statistics
- Sampling Methods for Statistics
- Confidence Intervals
- Hypothesis Testing in Business
- Analysis of Variance
- Nonparametric Methods in Statistics
- Regression Analysis
- Understanding Business Forecasting