Identify the Primary Reason for Conducting a Product Audit

question 86

Multiple Choice

Identify the primary reason for conducting a product audit. 

• A) To develop a marketing plan for new products
• B) To detect sick products and delete them
• C) To earn the estimated profits without introducing new products
• D) To implement cost cutting strategies without altering the product mix

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Definitions:

Monitoring Measurements

The tracking and recording of specific variables over a period of time, often used in scientific studies and quality control.

Standard Deviation

A metric that gauges the spread of a dataset in relation to its average, showing the extent to which data points diverge.

Control Limits

Boundaries set in control charts that represent the threshold at which a process is considered to be in control or out of control.

Sigma

A symbol (σ) representing the standard deviation of a population in statistics.