Examlex
A study was recently done in the United States in which car owners were asked to indicate whether their most recent car purchase was a U.S. car, a German car, or a Japanese car. The people in the survey were divided by geographic region in the United States. The following data were recorded. Given this situation, to test whether the car origin is independent of the geographical location of the buyer, the expected number of people in the sample who bought a German made car and who lived on the East Coast is just under 40 people.
Cycle Time
The total time from the beginning to the end of a process, operation, or cycle, often used to assess efficiency and productivity in manufacturing and other processes.
Raw Materials
Basic materials from which products are made, typically extracted natural resources or agricultural products.
Finished Good
A product that has completed the manufacturing process and is ready for sale to consumers or other buyers.
Internal Auditing
The independent and objective evaluation of an organization's financial and operational activities, typically performed by in-house staff.
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