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What Is Process Capability,and How Can Its Presence Be Ascertained

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Essay

What is process capability,and how can its presence be ascertained?


Definitions:

Capital

The wealth, whether in money or assets, used in the production of more wealth.

Isocost Line

A graph line that shows all possible combinations of inputs that can be purchased with a given total cost.

Slope

A measure of the steepness, incline, or grade of a straight line, calculated as the ratio of the vertical change to the horizontal change between two points on the line.

Capital

Resources, such as funds, equipment, and buildings, that are used in the production of goods and services.

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