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Six Sigma refers to a process whose output has at least 80% of its data points within +/- 6 Standard Deviations from the Mean.
It is a Type I error if we reject the Null Hypothesis when it is actually true.
The FMEA is used to analyze potential source of defects in the process of interest and stands for ________________________.
Training cost is $4,000 and a project required an initial investment of $30,000. If the project yields monthly savings of $2,000 beginning after 3 months, what is the payback period in months (before money costs and taxes)?
