The Main Difference Between Risk and Uncertainty Is That with Risk

question 10

True/False

The main difference between risk and uncertainty is that with risk you know the probabilities of the outcomes.

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Definitions:

Quality Audit

A systematic, independent examination to determine whether quality activities and related results comply with planned arrangements and whether these arrangements are effective in achieving objectives.

Summing Values

The process of adding together numbers or amounts to reach a total sum.

Six Sigma

A set of techniques and tools for process improvement, aimed at reducing defects and enhancing quality in manufacturing and business processes.

Sigma Drift

It refers to the natural deviation or shift in the process mean over time, especially in the context of Six Sigma methodologies focusing on reducing variability in processes.