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What are some Quality tools for identifing and monitoring mortgage process variability?
Wiki User
∙ 14y ago
Some Quality tools for identifying and monitoring process variability are:
- Cause-and-effect diagram (also called Ishikawa or fishbone chart): Identifies many possible causes for an effect or problem and sorts ideas into useful categories.
- Check sheet: A structured, prepared form for collecting and analyzing data; a generic tool that can be adapted for a wide variety of purposes.
- Control charts: Graphs used to study how a process changes over time.
- Histogram: The most commonly used graph for showing frequency distributions, or how often each different value in a set of data occurs.
- Pareto chart: Shows on a bar graph which factors are more significant.
- Scatter diagram: Graphs pairs of numerical data, one variable on each axis, to look for a relationship.
- Stratification: A technique that separates data gathered from a variety of sources so that patterns can be seen (some lists replace "stratification" with "flowchart" or "run chart")
Wiki User
∙ 14y ago
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Monitoring refers to the assessment of the quality of internal control. Monitoring activities provide information about potential and actual breakdowns in a control system
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A large sample reduces the variability of the estimate. The extent to which variability is reduced depends on the quality of the sample, what variable is being estimated and the underlying distribution for that variable.
