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General Glossary Term

Value Analysis

Value Analysis is the method to determine how features of a product or service relate to cost, functionality, appeal and utility to a customer (i.e., engineering value analysis). (See Target Costing .)

Standard Deviation

Standard deviation is an index of variability that statisticians can use to characterize the dispersion among the measures in a given population. It’s the measure of the spread of the data about the mean. Numerically, the standard deviation is the square root of the...