Assignable Cause Variation Refers to Variation in the Output of a Process

question 102

True/False

Assignable cause variation refers to variation in the output of a process that is naturally occurring, expected, and that may be the result of random causes.

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Definitions:

Economic Decisions

The choices made by individuals, households, or organizations regarding the allocation of resources and the distribution of goods and services.

Purposeful

Refers to actions undertaken with a specific goal or intention in mind.

Spontaneous

Occurring without external cause or premeditation, often resulting from a natural inclination or impulse.

Economic Generalization

Broad statements or principles about economic behavior that apply to different contexts and situations.