The Upper Limit and Lower Specifications for a Service Are

question 141

Multiple Choice

The upper limit and lower specifications for a service are 5.0 min. and 3.0 min., respectively. The process standard deviation is 0.4 min. and the process average is 4.0 min. What conclusion can be drawn?

• A) The process is capable.
• B) The process is not capable.
• C) The specifications should be changed to 4.2 and 3.8 respectively.
• D) No out- of- spec. services will be performed.

Understand the difference between various types of yogurts and marketing strategies used by companies.

Define and describe the components of an individual’s purchasing ability.

Identify the factors influencing an organization's marketing activities including external forces.

Differentiate between a market and a target market with examples.

---

Definitions:

Insurance Agent

A professional who sells, solicits, or negotiates insurance policies on behalf of an insurer.

Annuity

A financial service that ensures a regular payout to an individual, mainly intended as financial support for retirees.

EAR

Effective Annual Rate, the interest rate adjusted for compounding over a specified period, providing a true annual rate.

Weekly Payments

Regular payments made once a week as part of a financial agreement, often seen in loan repayments or salary distributions.