A Data Driven Technique for Eliminating Defects in a Process

question 20

Multiple Choice

A data driven technique for eliminating defects in a process is referred to as _____________.

• A) benchmarking
• B) six sigma
• C) reengineering
• D) quality assurance

---

Definitions:

Demand

The quantity of a good or service that consumers are willing and able to purchase at various prices over a given period of time.

Perfectly Elastic

A market condition where demand or supply responds infinitely at a particular price level and zero elsewhere.

Elastic

Describes a situation where the demand for a good or service significantly changes in response to price changes, indicating sensitivity to price.

Midpoint Method

is a technique in economics used to calculate the elasticity of demand or supply, providing a more accurate measure by averaging the starting and ending points.