The Use of Statistical Analysis to Determine the Probability of a Variation

question 41

Multiple Choice

The use of statistical analysis to determine the probability of a variation in a product being a random mishap or a continuous problem is known as which of the following?

• A) ISO 9000
• B) GATT 3000
• C) statistical process control
• D) random process control

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Definitions:

Cash Inflows

Money or funds received by a business during a period of time from various sources including sales, investments, and financing.

Average Accounting Return

A measure of the profitability of an investment, calculated as the average net income generated by an investment divided by its initial cost.

Marginal Tax Rate

The rate at which your last dollar of income is taxed, essentially the tax rate that applies to each additional dollar of income.

Start-Up Cost

Expenses incurred before a business begins operating, including costs such as legal fees, marketing, equipment purchases, and rent.