Joseph Juran Was Best Known for Statistical Thinking and Also

question 51

True/False

Joseph Juran was best known for statistical thinking and also proposed focusing on the system for quality improvement.

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Definitions:

Mutually Exclusive

This term describes options or decisions that cannot occur simultaneously; choosing one means forgoing the others.

Required Rate

The minimum percentage return that an investment must yield to be considered acceptable. It is essentially another term for the required return on investment, critical for financial planning and analysis.

Cash Flows

Cash flows are the net amount of cash and cash-equivalents being transferred into and out of a business.

Required Return

The minimum expected return on an investment, necessary to compensate for the risk taken by the investor.