What is the definition of economics? - ANS The production, distribution, and consumption of goods and
services.
What occurs when competition is low? - ANS Production can be inefficient without being penalized and
manpower and other resources can be wasted.
What creates more innovation? - ANS Mo...
ADM 106 GRADED A+
What is the definition of economics? - ANS The production, distribution, and consumption of goods and
services.
What occurs when competition is low? - ANS Production can be inefficient without being penalized and
manpower and other resources can be wasted.
What creates more innovation? - ANS More competition
Why are companies in business? - ANS To make money
What is the 1:10:100 Rule? - ANS This is the rule that states it costs $1 to fix in design, $10 to fix in
production, and $100 to fix in the field.
When your setting up your customer what are the two of the questions you ask your customers? - ANS
* What do you need from me?
* What will you do with what I give you?
Is it important to cut 2% of any process in the company? - ANS Yes, because 2% can be make or break
for some companies.
Define Cost of Quality - ANS The cost of not creating a quality product or service.
What are seven obvious examples of the cost of quality? - ANS * Reworking
* Retesting
* Rebuilding
, * Correction of bank statement
* Reworking of service
* Exceeding requirements
* Lost opportunities
What are six types of failure costs? - ANS * Scrap
* Rework
* Re-inspection
* Retesting
* Material review
* Downgrading
Discuss Flow charts - ANS A flow chart is a pictorial representation showing all of the steps of a process.
Describe a Run chart - ANS Run charts are used to analyze processes according to time or order.
Discuss Cause and Effect Diagrams - ANS Also called a fishbone diagram. It is a tool for discovering all
the possible causes for a particular effect. The purpose of this diagram is to act as a first step in problem
solving by creating a list of possible causes.
What is an SPC chart used for? - ANS To assist in controlling a process.
What is a Pie chart used for? - ANS Used to represent percentage data up to 100%
What is a Bar chart used for? - ANS To find frequency data
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