The Basic Seven (B7) Tools of Quality Can Be Used

question 87

True/False

The basic seven (B7) tools of quality can be used to handle 90% of the quality problems that a firm typically encounters.

Differentiate between types of effects (seasonal, cyclical) in time series analysis.

Calculate various forecasting error metrics, including mean absolute deviation (MAD) and root mean square error (RMSE).

Understand the principles of choosing appropriate forecasting models for different time series patterns.

Understand the concept and application of the simple exponential smoothing model in forecasting.

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Definitions:

Equal Participation

The concept that all members of a group have the same opportunity and responsibility to contribute to a process or activity.

Self-Handicapping

A cognitive strategy by which people avoid effort in the hopes of keeping potential failure from hurting self-esteem.

Disadvantage

A circumstance or condition that unfavorably affects someone, reducing their chances of success.

Own Ability

An individual's self-assessed competence or skill in a particular area.