The "Sigma" in the Term "Six Sigma Quality" Refers to Greek

question 95

Multiple Choice

The "sigma" in the term "six sigma quality" refers to Greek letter used to designate the estimated standard deviation or variation in a process. The higher the sigma level, the ________ and the higher the quality.

• A)higher the amount of variation
• B)lower the quotient of indeterminacy
• C)higher the index of deviation
• D)lower the amount of variation
• E)higher the quotient of indeterminacy

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Definitions:

Monopsonist

A market condition where there is only one buyer for a product or service, giving that buyer significant control over the market.

MRP

Stands for Material Requirements Planning, a system used for production planning, scheduling, and inventory control.

MRC

The Marginal Resource Cost, which is the additional cost incurred by producing one more unit of a good or service.

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity of the good that suppliers are willing and able to sell.