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Emotions and personal preferences may result in poor decisions. The two emotions that are the most disruptive to quality decision making are
Break-Even Point
The point at which total costs match total earnings from production or sales, leading to neither a profit nor a loss.
Maintenance Costs
The expenses incurred to keep an asset in working condition or restore it to proper operation.
Least-Squares Regression
A statistical method used to determine the line of best fit by minimizing the sum of the squares of the differences between observed values and those predicted by a linear function.
Machine-Hours
A measure of production time, calculating the total hours a machine is operated within a specific period.
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