Definition
A control chart, also known as a Shewhart chart or process-behavior chart, is a graphical tool used to monitor and control process performance over time. Control charts display process data in a time-ordered sequence with upper and lower control limits based on statistical analysis of historical data. Control charts help identify trends, shifts, or anomalies in process variability and distinguish between common cause variation and special cause variation.
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Private Limited Company (Ltd)
A Private Limited Company (Ltd) is a type of company where the ownership is divided into shares held by a small number of shareholders. The liability of shareholders is limited to the amount unpaid on their shares, and the company’s shares cannot be traded publicly on the stock exchange.
Limited Liability Partnership (LLP)
A Limited Liability Partnership (LLP) is a business structure where partners have limited personal liability for the debts and obligations of the partnership. Each partner’s liability is limited to their investment in the LLP, and they are protected from the actions of other partners.