What does it mean when we say that a process is capable?
What will be an ideal response?
From the text, a process is capable when the mean and standard deviation of the process are operating such that the upper and lower control limits are acceptable relative to the upper and lower specification limits.
You might also like to view...
The following lots of a particular commodity were available for sale during the year: Beginning inventory 10 units at $55 First purchase 25 units at $65 Second purchase 30 units at $68 Third purchase 15 units at $70 The firm uses the periodic system and there are 20 units of the commodity on hand at the end of the year. What is the amount of the inventory at the end of the year according to the
lower of cost or market, using the first-in, first-out method, if the current replacement cost is $68 a unit? A) $1,200 B) $1,100 C) $1,360 D) $1,390
"Quality lies in the eyes of the beholder" is:
A) an unrealistic definition of quality. B) a user-based definition of quality. C) a manufacturing-based definition of quality. D) a product-based definition of quality. E) the definition of quality proposed by the American Society for Quality.
It is often said that interest rate parity is satisfied when the differential between the interest rates denominated in two currencies equals the forward premium or discount between the two currencies
Explain why this is an imprecise statement when the interest rates are not continuously compounded.
Zoning ordinance variances:
A) are usually available for hardships caused by the actions of the property owner seeking the variance. B) are available if it affirmatively appears that the property as zoned cannot yield a reasonable return on the owner's investment in the property. C) are available for hardships caused by the variance that are common to the zoned area. D) All of these.