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i. If we are studying the relationship between high school performance and college performance, and want to predict college performance, high school performance is the dependent variable. ii. A financial advisor is interested in predicting bond yield based on bond term, i.e., one year, two years, etc. The dependent variable is bond term.
iii. The variable used to predict the value of another is called the dependent variable.
Preventive Maintenance
A plan that involves routine inspections, servicing, and keeping facilities in good repair to prevent failure.
Efficiency Level
A measurement of how well an entity uses its resources to achieve goals, often defined by the ratio of useful output to total input.
Theory Of Constraints
is a management philosophy focusing on identifying and managing the most critical limiting factor (constraint) that stands in the way of achieving a goal.
Constrained Workstations
Work areas within a production process that have limitations or restrictions affecting throughput or output.
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