According to Genichi Taguchi, Any Deviation from a Target Value

question 75

True/False

According to Genichi Taguchi, any deviation from a target value carries with it some level of opportunity loss due to scrap, rework, and customer dissatisfaction.

Comprehend the purpose and components of a goal statement.

Understand the importance of a timeline or plan in ensuring each step of a program is considered and implemented.

Differentiate between types of data used in evaluations.

Recognize the challenges and limitations associated with different types of evaluations.

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Definitions:

TSX

The Toronto Stock Exchange, which is the largest stock exchange in Canada where securities are bought and sold.

Standard Deviation

A metric that quantifies the extent of differences or variability among a group of figures.

Variance

A measure of dispersion that shows how much the data points in a set differ from the mean.

Squared Difference

The result of subtracting one value from another and then squaring the result, often used in statistical calculations to measure variance.