Evaluating a Process to Determine If It Meets Established Quality

question 62

Multiple Choice

Evaluating a process to determine if it meets established quality standards is known as:

• A) SPC
• B) Value stream mapping
• C) Pareto analysis
• D) Sales and operations planning
• E) Process capability

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Definitions:

Marginal Revenue Product

The additional revenue generated from employing one more unit of a factor of production.

Marginal Product

The extra output that comes from increasing a particular input by one unit, while keeping all other inputs unchanged.

Marginal Revenue Product

The extra revenue generated by employing one more unit of a factor, such as labor or capital.

Marginal Revenue Product

The additional revenue generated from using one more unit of a resource.