A Belt has determined that the insurance claim form needn't be reviewed by accounting thereby improving the number of claims a processer can handle. According to Cost of Poor Quality (COPQ) definitions RTY improvement would be considered _______________.
A. Downsizing savings
B. Median savings
C. Soft savings
D. Hard savings
The Pareto Chart is a tool that displays data that typically follows what ratio?
A. 70:30
B. 80:20
C. 90:10
D. 95:5
Al bought a digital camera from his local electronics store. When he first used it he found the zoom lens function was inoperative because a gear was installed improperly. For the manufacturer of the camera this would be categorized as what type of cost?
A. Internal Failure Cost
B. Prevention Cost
C. External Failure Cost
D. Appraisal Cost
Which of the following would likely be a CTQ (Critical-to-Quality) for the purchase of a service?
A. Documentation is clear
B. Was timely in delivery
C. Required no redo
D. All of these answers are correct
When we assess the Voice of the Customer we are attempting to determine the gaps in our processes between “what is” and __________________.
A. “What isn't”
B. “What will make money”
C. “What will cost less”
D. “What should be”
Voice of the Business is a Lean Six Sigma technique to determine the needs and wants of the ______________ of the business.
A. Owners
B. Managers
C. Debt holders
D. Staff
Y, the output of a process, is the ______________ variable while Xn, the various inputs to a process, are the _____________ variables.
A. Independent, dependent
B. Individual, multiple
C. Sole, multiple
D. Dependent, independent
The DMAIC approach to problem solving stands for Define, __________, Analyze, Improve and Control.
A. Manage
B. Measure
C. Memorize
D. Manipulate
The ROI for a project is a measurement metric that stands for _____________________ and is one of the methods used to measure the success of a Lean Six Sigma project.
A. Return on Investment
B. Recognition of Innovation
C. Recovery of Investment
D. Return on Inventory
Training cost $2,500 and a project required an initial investment of $23,500. If the project yields monthly savings of $2,500 beginning after 4 months, what is the payback period in months (before money costs and taxes)?
A. 7.2
B. 10.4
C. 14.4
D. 28.8
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