Lean Production Is Not Possible in a Small-Batch Production Scenario

question 131

True/False

Lean production is not possible in a small-batch production scenario.

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Definitions:

Survivorship Bias

Survivorship bias is the logical error of concentrating on the entities or people that made it past some selection process and overlooking those that did not, often leading to false conclusions.

Data Mining

The process of using statistical techniques to extract and identify patterns, relationships, or information from large datasets.

Active Portfolio Management

The strategy of making buy and sell decisions of investment portfolio holdings, aiming to outperform certain benchmarks.

Modern Portfolio Theory

An investment theory that proposes optimizing the expected return for a given amount of portfolio risk, or alternatively minimizing risk for a given level of expected return, through diversification.