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Quality control procedures is the statistical process designed to ensure that the precision and accuracy of, for instance, a laboratory test, are maintained within the acceptable limits. The simplest such process involves the chart (generally called a control chart) with three horizontal lines, one made at the target level of the applicable control statistic, and the others, called action lines, made at some pre-specified distance above and below the target level. The procedure is examined to be at an acceptable quality level as long as the observed control statistic lies among the two lines and to be at a rejectable quality level if any of these lines are crossed.
(a) You are trying to develop a strategy for investing in two different stocks, Stock A and Stock B. The anticipated annual return for a $1000 investment in each stock under four
Tree is the term from the branch of the mathematics which known as the graph theory, used to describe any set of the straight-line segments joining the pairs of points in some pro
The Null Hypothesis - H0: Model does not fit the data i.e. all slopes are equal to zero β 1 =β 2 =...=β k = 0 The Alternative Hypothesis - H1: Model does fit the data i.e. at
This graph for Cross Correlation Function for RES1, RES1 shows that there is possibly negative autocorrelation as there are alternating spikes; also the first spike is negative whi
The term which is used in the industrial experimentation, where there is commonly a large set of candidate factors believed to have the possible significant influence on the respon
Lorenz curve : Essentially the graphical representation of cumulative distribution of the variable, most often used for the income. If the risks of disease are not monotonically in
Multivariate analysis of variance is the procedure for testing equality of the mean vectors of more than two populations for the multivariate response variable. The method is dire
Household interview surveys : The surveys in which the primary sampling units are typically geographic regions such as nations or cities. For each such unit sampled, there are addi
Given: There are 4 jobs and 4 persons. The cost incurred for each person and each job is as follows: Persons Job 1 Job 2 Job 3 Job 4 A 10 9 21 11 B 15 12 25 17 C 12 10 20 12 D 17
Designs which permits two or more questions to be addressed in the investigation. The easiest factorial design is one in which each of the two treatments or interventions are p
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