A Process That Involves Examining All Elements of a Component

question 79

Multiple Choice

A process that involves examining all elements of a component, assembly, end product, or service to make sure it fulfills its intended function at the lowest total cost is:

• A)target costing.
• B)design to cost.
• C)value analysis.
• D)examination costing.

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Definitions:

Confidence Interval

A statistical range, with a certain probability, that is likely to contain the true value of an unknown population parameter.

Mean Height

The average height of a group of individuals.

Confidence Interval

A set of values, from sampled data, believed to contain the value of an obscure population parameter.

Sample Mean

The arithmetic average of a set of values sampled from a population, used as an estimate of the population mean.