The Malcolm Baldrige National Quality Award represents the U.S. government’s
endorsement of quality as an essential part of successful business strategy.
The weighted moving average forecasting model uses a weighting scheme to modify
the effects of individual data points. This is its major advantage over the simple moving
average model.
Exponential smoothing forecasts always lag behind the actual occurrence but can be
corrected somewhat with a trend adjustment.
If a person performing a task has been achieving a 95 percent learning curve and you
know that the task will end after the 100th unit, the last unit produced will take 71.12
percent as much time as the first unit.
A modular bill of materials is the term for an item that can be produced and stocked as a
subassembly.
The standard error of the estimate of a linear regression is not useful for judging the fit
between the data and the regression line when doing forecasts.