Economics foolproof - Study guides, Class notes & Summaries

TQM: Total Quality Management is an integrated organizational effort designed to improve quality at every level. Customer Defined Quality TQM is about meeting quality expectations as defined by the customer. Conformance to specification measures how well the product or service meets the targets and tolerances determined by its designers. Example of Conformance to specification The wait for hotel room service may be specified as 20 minutes, but there may be an acceptable delay of an addi...

T/F: Most online financial institutions & businesses will regularly send you emails asking you to update your account information by going to a link in their email. - False If you mismanage your checking account by bouncing checks repeatedly or ignoring overdraft notices, which of the following results may happen to you? - All of the above Which answer applies to "fine print"? - - Fine print is usually where virtually all the important information is located. - You should always read the...

Economics FoolProof Module 1 & 2

T/F: Most online financial institutions & businesses will regularly send you emails asking you to update your account information by going to a link in their email. - False If you mismanage your checking account by bouncing checks repeatedly or ignoring overdraft notices, which of the following results may happen to you? - All of the above Which answer applies to "fine print"? - - Fine print is usually where virtually all the important information is located. - You should always read the...

Which statement is true? - - It doesn't do much good to have a savings plan if you don't know how to budget your money. - Having a savings plan & a budget won't do much good if you don't know how to spend money wisely. In this module, we say a "good" money burn means you have spent money wisely. A "bad" money burn means you have spent money you did not need to spend. Tell us which answer shows the best "good" money burn. - You shop around & buy a pair of the exact same designer j...

Which statement is true? - - It doesn't do much good to have a savings plan if you don't know how to budget your money. - Having a savings plan & a budget won't do much good if you don't know how to spend money wisely. In this module, we say a "good" money burn means you have spent money wisely. A "bad" money burn means you have spent money you did not need to spend. Tell us which answer shows the best "good" money burn. - You shop around & buy a pair of the exact same designer j...

1.1 SPO #1 Relationship between a SPO and a test question - correct answer A test question must respond directly to an SPO and every SPO may be the basis of a test question 1.1 SPO #2 Reasons for Corrections Training - correct answer Mandated by State Law To acquire new knowledge and skills To reduce errors and mistakes in performing critical tasks while protecting the public To standardize procedures To increase efficiency To build confidence and morale To promote safety and survival s...

1. TQM: Total Quali- ty Management 2. Customer De- fined Quality 3. Conformance to specification 4. Example of Con- formance to specification is an integrated organizational effort designed to improve quality at every level. TQM is about meeting quality expectations as defined by the customer. measures how well the product or service meets the targets and tolerances determined by its designers. The wait for hotel room service may be specified as 20 minutes, but there may be an acceptable delay...

Total Quality Management (TQM) Philosophy 1. customer focus 2. continuous improvement 3. employee empowerment 4. use of quality tools 5. product design 6. process management 7. managing supplier quality Process Capability Index (Cpk) Basic function of Six Sigma. Measures the process potential and performance of processes. The higher the range of Cpk, the improved is the ability of the process to complete its necessities. Six Sigma A disciplined, data-driven approach and me...