FIGURE 4-2 -Refer to Figure 4-2. Under What Circumstances Would a Movement

question 26

Multiple Choice

FIGURE 4-2

-Refer to Figure 4-2. Under what circumstances would a movement from S₁ to S₂ occur?

• A) an increase in the price of potato chips, a complement to submarine sandwiches
• B) an increase in the price of wheat bread used to make submarine sandwiches
• C) a reduction in the price of sliced beef used to make submarine sandwiches
• D) an increase in the price of submarine sandwiches

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Definitions:

Quality of Product

The degree to which a product meets the specified criteria and satisfies the customer's expectations.

Sigma

A statistical term that measures how far a given process deviates from perfection. The term is notably used in Six Sigma methodology to measure the number of defects in a process.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values from the mean.

Benchmarking

The process of comparing key points within your business with comparable points in another external entity.