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A company is planning to replace an old machine with a new one.Which of the following is a sunk cost?
Control Charts
Visual tools used in statistical process control to monitor how a process changes over time, highlighting variations outside of predefined bounds.
Special Cause Variation
A type of variation in a process, identified as being caused by specific identifiable factors, unlike common cause variation which is inherent to the process.
Special Cause Variation
Variation in a process that is caused by specific, identifiable sources, unlike random variation, which is inherent in the process.
Major Accident
An incident, often within industrial or transportation settings, which results in significant harm to people, property, or the environment.
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