Identify ALL true statements The phrase Six Sigma has two meanings. One is statistical, referring to an extremely high process, product, or service capability; the other is a comprehensive system for achieving and sustaining business success. The quality loss function indicates that costs related to poor quality are incurred only for large deviations from the target quality level. TQM is important because each of the ten decisions made by operations managers deals with some aspect of identifying and meeting customer expectations. Benchmarking requires the comparison of your firm to other organizations; it is not appropriate to benchmark by comparing one of your divisions to another of your divisions or comparing across industries. Quality is mostly the business of the quality control staff, not ordinary employees. Continuous improvement is based on the philosophy that every aspect of an operation, however small or insignificant can be improved. One of the ways that just-in-time (or JIT) influences quality is that by reducing inventory, bad quality is exposed