statistical process controls using quantitative tools
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Please help with the following business math problem. Include at least one reference as part of the solution.
Using quantitative tools is one way to manage data. What kind of solutions may be derived using various statistical process controls (SPC)? Why is SPC training important to both company employees and managers?
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Solution Summary
The following posting helps with a problem involving business math. The solution involves using quantitative tools to manage data. The explanation is given in 245 words. A reference is included with the answer.
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Problem: Using quantitative tools is one way to manage data. What kind of solutions may be derived using various statistical process controls (SPC)? Why is SPC training important to both company employees and managers?
Solution: SPC tools such as control charts help in monitoring process behavior and distinguish between common cause variation and special cause variation or those variations, which are not inherent in the process and have occurred due to external reasons and ...
Education
- BComm, University of Delhi
- Post Graduate Diploma in Management (Equivalent to MBA), All India Management Association
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