The First Step in Process Flow Analysis Is

question 19

Multiple Choice

The first step in process flow analysis is:

• A)To develop a flowchart
• B)To break the process down into blocks
• C)To decide what technique will be used to analyze the process flow
• D)To select an appropriate transformation process for analysis

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Definitions:

Historical Records

Documented events, transactions, or other data from the past, used for reference or analysis.

Demand Frequency

The rate at which goods or services are requested or required by customers.

Expected Demand

The anticipated quantity of a product or service that consumers will purchase in a future period under given conditions.

Monte Carlo Simulation

A computational algorithm that uses repeated random sampling to obtain numerical results, often used to assess risk and uncertainty in business and engineering models.