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16 Cards in this Set
- Front
- Back
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What are the usual statistical process control techniques?(3) |
- quality control chart - monitoring and feedback - acceptance sampling |
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How does Acceptance Sampling work? |
probability that the rate of defective items in a batch is less than a specified level |
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What does Acceptance Sampling determine? |
e.g. population: 500 sample: 25 defective sample items: 0 result: probabability is 93% that population deviation rate < 10% |
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What is the linear regression formula (exemplified for COGS)? |
Y=a+bx Y: output (costs of goods sold) a: intercept (fixed costs) b: slope aka regression coefficient (variable costs per unit of goods sold) x: number of goods sold |
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What does a P chart show ("P" = percentage)? |
percentage of defects (not acceptable items/total items) in a sample |
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What does a C chart show ("C" = count)? |
number of defects per sample |
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What does a X-bar chart show?
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the mean of a sample values of a variable where the center line is the overall mean of the means of the different samples of that variable
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what does a R chart show ("R" = range)?
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the range of dispersion within a sample (largest value minus smallest value) of a variable (size or weight) where the center line is the average range of different samples of that variable
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How are the expected cost in a cost benefit analysis calculated? |
Probability of being out of control x Cost of corrective action + Probability of being in control x Investigation cost |
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In what does the Pareto Diagram assist managers? |
in 80:20 analysis |
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What does the 80:20 rule state? |
80% of all effects are the result of 20% of all causes |
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How does the Pareto Diagram look like? |
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With what does a histogram show conformance? |
standard bell curve |
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how does a histogram look like?
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What is the Fishbone diagram good for? |
to study causation when no single cause for a problem can be identified |
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What does a run chart track? |
the frequency or amount of a given variable over time |
