The "Sigma" in the Six Sigma Name Refers to the Greek

question 71

True/False

The "sigma" in the Six Sigma name refers to the Greek letter that statisticians use to represent a standard deviation from the mean.

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Definitions:

Short Run

In economics, a period in which at least one factor of production is fixed and cannot be changed.

Total Variable Cost

Represents the sum of all costs that vary with the level of output production, excluding fixed costs.

Total Cost

The sum of all costs associated with the production of a specific quantity of a good or service, including both fixed and variable costs.

ATC

Average Total Cost, a financial metric calculated by dividing total cost by the quantity of output produced, illustrating the average cost per unit of output.