Examlex
Saving is income that is not consumed.
Control Charts
Statistical tools used in quality control processes to analyze and understand process variations over time.
Upper Control Limits
The threshold values in statistical quality control that indicate the maximum acceptable variation in a process.
Pareto Analysis
A decision-making technique used for selecting a limited number of tasks that produce significant overall effect, based on the principle that 80% of effects come from 20% of causes.
Vital Few
A principle often associated with the Pareto Principle, indicating that a small number of causes, inputs, or effort usually lead to a majority of the results, outputs, or rewards.
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