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Cost of Quality Name Four Components of the Cost of Quality and List

question 29

Essay

Cost of quality
Name four components of the cost of quality and list three examples of each.


Definitions:

Marginal Cost

The price of making an additional unit of a product.

Slope

A measure of the steepness or incline of a line or surface, typically described as the ratio between the change in the y-value and the change in the x-value.

Variable

An element, feature, or factor that is likely to vary or change; it can be quantitative or qualitative in experiments and mathematical models.

Mathematical Convention

Established, standardized practices or rules that are followed within mathematical reasoning and calculations.

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