Industrial Engineering and Production Management
Slack represents the difference between the

Latest allowable time and the normal expected time
Latest allowable time and the earliest expected time
Normal allowable time and the latest expected time
Proposed allowable time and the earliest expected time

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Industrial Engineering and Production Management
The process capability of a machine is defined as the capability of the machine to

Produces a definite volume of work per minute
Produce job at a definite spectrum of speed
Perform definite number of operations
Holds a definite spectrum of tolerance and surface finish

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Industrial Engineering and Production Management
In queuing theory, the nature of the waiting situation can be studied and analysed mathematically if

All variables and constants are known and form a linear equation
Complete details of items in, waiting line are known
The laws governing arrivals, service times, and the order in which the arriving units are taken into source are known
Arrival and waiting times are known and can be grouped to form a waiting line model

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