Which of the Following Items Is Not a Tool That

question 114

Multiple Choice

Which of the following items is not a tool that can be used by management to take corrective action in a process deemed out of control?

• A) Cause-and-effect diagram.
• B) Statistical quality control (SQC) chart.
• C) Fish-bone diagram.
• D) Pareto diagram.
• E) Histogram.

Explain the relationship between price and quantity supplied and the formation of supply curves.

Understand the concept of supply and demand and how changes in these affect market prices.

Identify factors that shift supply and demand curves.

Distinguish between normal, inferior, complement, and substitute goods.

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Definitions:

Principal

The original amount of money on which interest is calculated.

Composition

The act of combining two functions by applying one function to the result of another.

Function

A mathematical relation in which each element of a set of inputs is associated with exactly one element of a set of outputs.

Inverse Function

A function that reverses the operation of a given function, so that if the original function applied to an input gives a certain output, the inverse function applied to that output returns the original input.