Examlex
Use the given degree of confidence and sample data to construct a confidence interval for the population proportion p.
-Of 150 adults selected randomly from one town, 30 of them smoke. Construct a 99% confidence interval for the true percentage of all adults in the town that smoke.
Operational Excellence
The philosophy of making continuous improvements in operations to enhance quality, efficiency, and customer satisfaction.
Mass Customization
A business strategy that combines the efficiency of mass production with the personalization aspects of custom-made goods or services.
Make-to-order
A manufacturing process in which products are created after a confirmed order is received, allowing for customization.
Primary Activities
Core functions or processes of a business that directly add value to a product or service, including production, marketing, sales, and service.
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