A statistical control chart:

Multiple Choice

Sets control limits based on managerial intuition and experience with the process.

Is useful for identifying random versus systematic variances.

Is useful for identifying in $-$ control but not out $-$ of $-$ control operations.

Depicts the expected mean $($ or target $)$ ?value of a process, but not the allowable range around that value.

Determines control limits $($ both upper and lower $)$ ?informally, by trial and error.