XmR Trend Control Chart in Excel
Use an XmR Trend Control Chart to evaluate stability of processes using trended data - costs (e.g., inflation).
XmR Trend Control Chart created using QI Macros for Excel.
The Chart will calculate the fit of the data to the trend:
Useful Fit R² > 0.80
Ryx = 0.991
Slope = 3.649
Sigma = 4.265
Probability = 0.444
- R² gives the fit of the line to the trend. Greater than 0.80 is a good fit.
- Ryx is the linear correlation coefficient. Compare to probability for df = n - 2.
- Slope is the positive or negative slope of the trend
- Sigma is the estimated standard deviation Rbar/d2
- Probability is critical value for Ryx. If Ryx > Probability then a statistically significant correlation exists.
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