Business Analysis with Microsoft® Excel, Second Edition

Summary

This chapter has described how to use Excel to create X-and-S statistical control charts and P-charts, to monitor the ongoing performance of systems. X-and-S charts are used for variables such as the capacity of floppy disks, the length of telephone calls or the profit margin on daily sales. P-charts are used for attributes: for example, the percent of defective units such as manufactured goods, or forms that you can classify as either defective or acceptable. These statistical control charts enable you to judge the performance of a system over time.

Another topic in this chapter is operating characteristic curves. Studying these curves puts you in a position, as a supplier, to limit the risk that an entire shipment of goods will be rejected ...