Examlex
Six Sigma addresses visible problems in processes; lean production is more concerned with less visible problems.
Job Analysis
The process of gathering, documenting, and analyzing information about job tasks, responsibilities, and the required skills, knowledge, and abilities for a specific role.
Midpoint Method
A technique for calculating the percent change in which changes in a variable are compared with the average, or midpoint, of the starting and final values.
Price Elasticity
A measure of how much the quantity demanded of a good responds to a change in the price of that good, reflecting the sensitivity of consumers to price changes.
Quantity Demanded
The total amount of a good or service that consumers are willing and able to purchase at a specific price level, at a given time.
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