Which Quality Control Technique Uses a Five-Step Methodology to Define

question 167

Multiple Choice

Which quality control technique uses a five-step methodology to define, measure, analyze, improve, and control processes, otherwise referred to as DMAIC?

• A) Quality circles
• B) Six Sigma
• C) Benchmarking
• D) Balanced scorecard
• E) Continuous improvement

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Definitions:

Opportunity Costs

The loss of potential gain from other alternatives when one particular alternative is chosen over others.

Marginal Revenue

The supplementary income produced through the sale of an extra unit of a product or service.

Equilibrium Price

The price at which the quantity of goods suppliers are willing to produce equals the quantity of goods consumers are willing to buy.

Normal Profit

The minimum level of profit necessary for a company to remain competitive in the market, covering opportunity costs but not generating economic profit.