A Process Improvement Tool That Provides a Graphical Record of Process

question 18

Multiple Choice

A process improvement tool that provides a graphical record of process improvement efforts over a period of time is termed a ________.

• A)pareto analysis
• B)plan-do-check-act cycle
• C)control chart
• D)fishbone diagram

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Definitions:

Consumption

Consumption denotes the use of goods and services by households, representing the final purchase of goods and services to satisfy wants and needs.

Net Worth

The total assets minus total liabilities of an individual or company, representing the financial value of the entity.

Assets

Resources owned by a business or individual with economic value expected to provide future benefits.

Liabilities

Financial obligations or debts that an entity owes to others, which must be settled over time through the transfer of economic benefits.