Complete the following chart by filling in the missing items. Use a 360-day year and round all answers to the nearest dollar and to 2 decimal places for percentages.
Definitions:
Competitive Advantage
The attribute that allows an organization to outperform its rivals.
Statistical Quality Control
The application of statistical methods to monitor and control a process to ensure that the quality of products or services meets a specific standard.
Statistical Techniques
Mathematical methods used to collect, analyze, interpret, and present numerical data.
Total Quality Management
A management philosophy that emphasizes a commitment to customer satisfaction by focusing on continuous improvement of business processes.
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