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 ...

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 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 ...

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 ...

Quality control is a methodology employed in manufacturing to prevent defects in manufactured products. Abbreviated as QC, the method has been implemented in a number of ways each of which has its own ...