2026
Instructions
All answers are underlined.
Questions
+/- 1 SD <answer>68% of data lie within this range
+/- 2 SD <answer>95% of data lie within this range
+/- 3 SD <answer>99.7% of data
1-2s rule <answer>run is accepted when both control
results are within 2 SD limits from the mean value
,1-3s rule <answer>the run is considered out of control
when one of the control results exceed the +/- 3 SD limits
2-2s rule <answer>The run is rejected when both controls
exceed the mean value +2SD or the mean -2SD limits
4 stages of workflow and lab design <answer>1.
organizations - management, planning process
2. budget
3. graphic display
4. written narrative description
4-1s rule <answer>The run is rejected when the last 10
consecutive control results fall on the same side of the
mean
account rate of return (ARR) <answer>Uses accounting
information to measure profitability of an investment. The
average yield that will be earned over the life of an
investment.
(average net profit/ purchase price of project) x 100
,account receivable <answer>income that has been
earned but for which no cash payment has been received
accounting breakeven <answer>Volume needed to
produce zero profit. Revenues cover all accounting costs.
Total Revenue (cost x volume) - Total Variable (variable
cost rate x volume) - fixed costs = $0
accuracy <answer>closeness of a result to the actual
value of an analytic when performing a test. "Hitting bulls’
eye"
Adam's Equity Theory <answer>Workers compare the
reward potential to the effort they must expend. Workers
also consider rewards of others. Equity exists when
workers perceive that the reward equals the efforts.
(motivation theory that focuses on behavior) Theory calls
for a fair balance to be struck between an employee's
inputs (hard work, skill level, tolerance, enthusiasm, and
so on) and an employee's outputs (salary, benefits,
intangibles such as recognition, and so on).
, adverse event <answer>injury resulting from a medical
intervention; it is not due to the underlying condition of the
patient
analytical time <answer>performing/resulting tests
analyze labor costs <answer>institutional labor cost
evaluation (employment cycle)
technical evaluation of labor cost - assign labor costs to
production activities that generate expenses. helps
manager identify where efforts are being expended and
productivity
accounting and budgeting labor analysis - helps monitor
staffing levels, productivity and management performance
against budget objectives
annual depreciation <answer> (cost - salvage value) /
useful life
annual depreciation <answer> (initial cost - salvage
value)/ useful life