Which of the Following Represents a Long-Run Adjustment

question 111

Multiple Choice

Which of the following represents a long-run adjustment?

• A)A farmer uses an extra dose of fertilizer on his corn crop.
• B)Unable to meet foreign competition, a U.S. watch manufacturer sells one of its branch plants.
• C)A steel manufacturer cuts back on its purchases of coke and iron ore.
• D)A supermarket hires four additional clerks.

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Definitions:

Standard Errors

Measures of the variability or spread of sample statistics, indicating the precision with which they estimate corresponding population parameters.

Control Limits

Control limits are statistical boundaries set in process control charts to determine if a process is operating in a state of statistical control or if there are variations that require attention.

Centerline

A reference line drawn on a graph or chart that represents the average, norm, or expected value of a set of data or a process control chart.

Process Capability Index

A measure used to quantify how well a process can meet specified output requirements.