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Briefly Describe the Two Types of Groups That Serve Community

question 3

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Briefly describe the two types of groups that serve community needs. Provide examples of each type.

Understand the use of nonfinancial measures in lean manufacturing.
Recognize the importance of quality control costs in a lean environment.
Identify the application of lean practices to service industries and administrative processes.
Understand the principles and objectives of lean manufacturing.

Definitions:

Expected Return

A financial term referring to the average amount of profit or loss an investment is predicted to generate based on historical data.

Rate of Return

The positive or negative change in an investment's worth, calculated as a percentage of its original cost.

Correlation Coefficient

A numerical measure of the linear correlation between two variables, ranging from -1 to 1.

Riskless Portfolio

A theorized portfolio of investments that has a guaranteed return, with no risk of financial loss.

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