OPERATING CHARACTERISTICS (OC) CURVE
A quality control graph that shows the likelihood that a production lot will contain an acceptable number of defective items using various sampling schemes.
Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.
A quality control graph that shows the likelihood that a production lot will contain an acceptable number of defective items using various sampling schemes.
All those agents or forces that are out of an organization’s control, but can accelerate or restrict the organization?s success.
An area in which common currency will improve economic efficiency, based on a theory credited to Robert Mundell.
A dividend that may be paid to a shareholder in the form of cash or additional shares.
The interval between two sets of orders.
1. Business: Income that is obtained by day-to-day business transactions, excluding the sale of capital. 2. Personal: The amount of an individual?s income that is subject to full tax rates (and not
Pollution that occurs when organic substances emit pollutants into the environment. These pollutants can usually be oxidized by naturally occurring micro-organisms.
Principles and practices that define the unique atmosphere within an organization.
Initial induction of new employees into organizations. Objectives include developing employee commitment, easing anxiety, promoting organizational expectations and explaining what the employee can gain from working with the organization.
Classification term that applies to minor assets (e.g. scrap value of outmoded equipment) when recorded on balance sheets.
The state of a process when outputs / samples are no longer within statistical control. A control chart of such a process will show data points that are not clustered around the
1. A statistical data point that lies outside of normal distribution. 2. A person who lives or works far from major conurbations.
A measurable standard that expresses the amount of energy, work, goods or services a process should produce in a given period.
When a certification authority approves a greater payment than is actually due.
Occurs when spending money to improve a property is no longer the best use of the property, or is too expensive when compared to the cost of improving other properties.
Activity that occurs when feedback or corrective action is delayed or poor. Most evident in the collapse of economic cycles and social units, when natural resources are exhausted and when an ecosystem
On their financial statements, a company reports payments received for products or services.
The price of an item which is estimated, and has no correlation to the market price. The sole purpose of the nominal price is to initiate a trade. It is used when
Data that contains significant information regarding the items being costed but does not include any information related to cost. Some examples include technical descriptions, schedules, etc
Absence when called upon by a court at the hearing