________ refers to the use of random sampling and tools, such as control charts, to monitor the production process
A) Total Quality Management
B) Six Sigma
C) ISO 9000
D) JIT quality
E) Statistical process control
Answer: E
Explanation: Statistical process control refers to the use of random sampling and tools, such as control charts, to monitor the production process. Control chart is one of the most important SPC tools.
You might also like to view...
Campbell, Inc. has net income of $500,000 and 200,000 shares of common stock. The company is considering a project that requires $800,000 and is considering two options:
• Option 1 is to borrow $800,000 at 12%. • Option 2 is to issue 100,000 shares of common stock for $800,000. Considering all relevant facts and figures, Campbell's management is of the opinion that the funds raised can be used to increase income before interest and taxes by $300,000 each year. The company estimates income tax expense to be 40%. Analyze the Campbell situation to determine which plan will result in higher earnings per share. (Round your answers to two decimal points.)
Which of the following is one of the advantages of the charismatic approach to leadership over the contingency approaches?
a. They focus on middle level managers. b. They show the importance of the task. c. They highlight the importance of the emotional links. d. They allow us to measure traits more accurately.
Taylor’s scientific management principles include all of the following, EXCEPT ______.
a. using wage incentives b. developing a set of rules and procedures to ensure fair treatment of employees c. planning and scheduling work d. promoting job specialization
Discuss why units are lost during production