Category: Q

This market research interviews consumers that have purchased a new or recently improved product on the market. Only a small number of people are interviewed in order to gauge the consumer reaction

A mathematical formula that was developed by Dr. Genichi Taguchi in Japan in which the result is listed in money terms. It is a formula that estimates the loss of quality that

Also called the 7 tools of quality. Any type of device or tool that is used to support the quality of all products. It can take the shape of a chart, technique

The amount that a company will provide so it will meet the demands of the customers. The amount is made available after the customers have been monitored to indicate the demand for

An organisation that is not run by government and whose members are nations and countries and not individual people. The functions performed are often those that are performed by a government.

Again the term does not mean with no noise. It means with no interference from another party. Each sale carries the implication that it can be owned without any interference.

1. A privilegde, that if used properly, can protect its holder for failure to perform a certain act. 2. The defense in an act of defamation thatb it was made free from

A list of requirements that do not include strict measurements as yet. This data will be used before any actual measureme ts or dimensions are set down.

The activities of management that will create a quality control policy. A department will determine and manage all aspects of quality control to maintain quality and to continue to improve it.

A way of assessing the performance of a company through ratios. The ratios are from measurable factors available during the processing method.

A concept used in economics that states that the m oney supply willaffect the level of economy and the rate of inflation.

An agreement that is between two parties where one party will borrow money from the other. The agreement is that the money will be paid back in the future but there are

Frank Galton invented this in the 1890’s in the UK. A tool that is used to represent and to create a frequency distribution. It has boards and pegs through which they pass

A trust in which the assets are able to be transferred to a spouse for the length of their life. The assets can also not be transferred to another person after the

The measure of the relative risk that is involved with a product or service. It numbers from 1 to 10 and uses terms like very important, important, not important, not very important.

A system that has been developed in order to maintain the desired quality and specififcations that have determined necessary for a product. The system will also work towards maximising efficiency in order

A number that is given to a subjective aspect of a phenomenom or object. It uses an arbitary scale to measure the attributes and characteristics that are exhibited by the object or

The guranteed rate of exchange between one countries exchange rate and another. The rate is guaranteed at the time.

Through the use of modern technology, information is researched and developed in order to provide the information to other industries.

A unit of metric measurement. It is the equivalent of one tenth of a tonne or one tenth of 100 kilograms. It is equal to 220 pounds.