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Using the Shewhart and Deming Cycle of Plan-Do-Study-Act PDSA, develop a plan to solve the problem described in the scenario below. In your response, identify the TQM tools you will use and the aspects of the Kowalski, Lasley, and Mahoney data-based decision making model that integrate into your plan.
Scenario: You are a school principal who has received a call from your superintendent that she is unhappy with your school's performance on the recently published results of the state's high-stakes test. She requests a detailed plan from you that outlines solutions to address the problem.
Consumer Wealth
The total value of assets owned by consumers, including savings, property, and investments, which can impact their spending and saving behaviors.
Aggregate Supply Curve
A curve representing the relationship between the economy’s price level and real GDP supplied per period, with other things constant.
Aggregate Demand Curve
A curve that represents the total demand for goods and services in an economy at various price levels, assuming all other factors remain constant.
Price Level
An index reflecting the mean of current prices for a wide array of products and services in the economy.
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