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Research Article Open Access
Process control under the guidelines of reducing the costs of operations, production and inspection and produce high quality service and operations is examine to see if data from various parent populations can change the results and interpretations. With the purpose of achieving a minimal amount or error generation from the examination of control charts in univariate SPC, we compare data taken from three parent populations, i.e., Normal, Poisson and Exponential. Data and graphical analysis of Statistics permits one to visualize problems associated with where data comes from and whether it is satisfactory to use. We focus of univariate application but discuss multivariate application. This research will enable us to evaluate the conditions brought on by serial correlation and time series characteristics of models.
Process control, Operations, Production costs, Data, Economic Capital, Financial Economics, Hospitality Management, Industrial and Management Optimization, Innovation Policy and the Economy, Socio-Economic Planning Sciences, Economic indicator, Total Quality Management (TQM), Value based Management, Entrepreneurial Development, Management in Education, Classical Economics, Monetary Neutrality, Econometrics, New Economy, Welfare Economics, Development Economics, Economic Transparency, Globalisation, Game theory