The Process Improvement Technique That Sorts the Vital Few from the Trivial

question 198

Multiple Choice

The process improvement technique that sorts the vital few from the trivial many is:

• A) Taguchi analysis.
• B) Pareto analysis.
• C) benchmarking.
• D) Deming analysis.
• E) Yamaguchi analysis.

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Definitions:

Franchise

A contractual right to sell certain products or services, use certain trademarks, or perform activities in a geographical region

Residual Value

The estimated value of an asset at the end of its useful life, often used in computing depreciation or lease payments.

Depletion Rate

A measure used in accounting to allocate the cost of extracting natural resources, such as timber, minerals, and oil, from the earth over the period of their extraction.

Oil Well

A drilling operation that extracts petroleum from the ground.