The Deming Cycle Is Designed to Catch Errors Before They

question 77

True/False

The Deming Cycle is designed to catch errors before they happen.

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Definitions:

Borrowed

Money that one has taken on loan from another party, under the condition that it will be repaid, usually with interest, at a later date.

Interest

The charge for borrowing money or the return on invested capital, usually expressed as an annual percentage rate.

Interest Rate

The fraction of a borrowed sum that incurs interest charges for the borrower, often expressed in terms of a yearly percentage.

Investment

The process of assigning financial resources with the goal of making a profit or gaining income.