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Do you think there is a correlation between CEO salaries and the degree of success of a company?

If you were to take a sample of companies with comparable size, market capitalization, and product category, and plot CEO salaries against the net profit of their respective companies, do you expect to find a linear correlation between the two? Explain SOLUTION) There should be a good correlation between the salaries of CEO and the degree of success of a company. As far as the success of a company concerned it depends on CEO performance also so we need best CEO for any company and also we have to pay more to them. So if the company is successful then it pays more to its CEO. We can think of any big company and the salary of their respective CEOs. To sum up we can say that there should be a linear correlation between the CEO salaries and the degree of success of a company. It means better CEOs are taking more salaries or they are demanding more, so the companies have to pay good salary.

Visit the websites on Quality Control (QC) listed in the Required Websites for this week. In addition, locate an article on the Internet or in the Library databases that describes an example of the use of statistics in Quality Control. In your post, briefly define Quality Control and explain its importance. Also, describe some of the most widely used tools in the industry for measuring and controlling quality, emphasizing their relationship to what you have encountered in this class. Finally, explain the example from your article of statistics as applied in a Quality Control context. Respond to at least two of your classmates postings SOLUTION) An everyday example of Statistical Quality Control (SQC) is the random selection of members for a team from a population of boys and girls. Statistical Quality Control, abbreviated as SQC, is one of the most important abbreviations of the statistical techniques in industry. These techniques are used to assess the causes of variation in the quality of manufactured products. It enables us to determine whether the quality standards are being met without inspecting every unit produced in the process. The important of SQC can be understood through the following points: It helps in the control, maintenance and improvement in the quality standards. It enables us to remove and detect the assignable causes of variation It also helps us to predict the quality of manufactured products thus, providing more satisfaction to consumer The diagnosis of the assignable causes of variation ultimately helps in reduction of waste and scrap, reduction in cost per unit, reduction in inspection. All these factors result in less cost of production, enhanced productivity and more profits for the manufacturing concern.

The general category of statistical tools used to measure organizational quality is mainly of three types. Descriptive Statistics is used to describe quality characteristics and relationships. Examples included are mean, standard deviation, range etc. Statistical Process Control: It is a tool which is involved in inspecting a random sample of the output from a process that fall within a specific range. It uses graphical displays known as control charts to determine whether a process should be continued or should be adjusted to achieve the desired quality. Acceptance Sampling: it is tool which randomly inspects a sample of goods and deciding whether to accept the entire lot based on the results. The example cited above follows the guidelines of the acceptance sampling tool in analyzing the quality of the population. The sample selected represents the general characteristics of the population and hence, it was accepted to be the representative of the entire population. This is the application of quality in a statistical process.

Reference managementhelp.org, 2011 as retrieved on 1st March 2012 from

http://managementhelp.org/quality/tqm/tqm.htm