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DEFINE Control charts

DEFINE Control charts

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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DEFINE Control charts

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Step 1

Control chart represents how the process changes over time. To achieve this data is plotted on the basis of time.

The major benefit of using control charts is they can be used to control the process by improving process control. We can also determine if the process is stable or not. Also, we can predict the range for outcomes.

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