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A hospital is concerned that the number of medication errors has increased significantly in the past year. A project revealed four causes of medication errors. The above chart was used to help staff and administration know where to focus efforts to reduce errors. Which process improvement tool is used in this situation?
Price-Elasticity Coefficient
A gauge for understanding how the quantity of a product demanded reacts to price adjustments.
Sales Quantity
The total number of units of a product or service sold within a specific period.
Demand Schedule
A table that shows the quantity of a good or service that people will purchase at various prices over a specified period.
Total Revenues
The total income received by a firm from its sales of goods or services, calculated by multiplying the selling price by the quantity sold.
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