An Operation That Strives to Achieve the Highest Possible Productivity

question 33

Multiple Choice

An operation that strives to achieve the highest possible productivity and total quality by eliminating unnecessary steps in the production process and that continually strives for improvement is practicing

• A) Time-based competition.
• B) Total quantity management.
• C) Lean manufacturing.
• D) Mass customization.
• E) JIT processes.

---

Definitions:

Point Estimate

A single value or statistic that serves as the best guess or estimate of a population parameter based on sample data.

Interval Estimate

An estimate of a population parameter that specifies a range of possible values within which the parameter is expected to lie, usually expressed with a degree of confidence.

Confidence Interval

An interval of values obtained from statistical study of a sample, which is believed to cover the value of a hidden population parameter.

Applicants

Individuals or entities that apply for something, such as a job, grant, or college admission.