Briefly explain what the Central Limit Theorem has to do with control charts
What will be an ideal response?
It provides the theoretical foundation for x-bar charts. It leads to the usability of the normal distribution in control charts because regardless of the distribution of the population of all parts or services, the distribution of the samples means tends to follow a normal curve as the number of samples increases.
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Strategy is about making choices that provide an organization with some measure of ______ that allows them to outperform competitors.
A. Uniqueness B. Scale C. Structure D. Effectiveness
If a company from Country A decides to sell merchandise to a company from Country B, then the company from Country A ________
A) will denominate the sale in its own currency since it is too hard to convert foreign currency B) will denominate the sale in the currency of the buyer since it is too hard for them to convert foreign currency C) can denominate the sale in either currency and use the foreign-exchange market to convert currency D) can use the OTC market to convert receipts in the future and the exchange markets to convert receipts in the spot market