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Operational Definition
A description in quantifiable terms of what to measure and the steps to follow to measure it consistently. Deming has suggested that a good operational definition includes: 1) a criterion to be applied, 2) a way to determine whether the criterion is satisfied, and 3) a way to interpret the results of the test. An operational definition is developed for each KQC or process variable before data is collected.
Similar MatchesOperationally efficient marketOperationally efficient market
Market in which investors can obtain transactions services that reflect the true costs associated with furnishing those services. Also called an internally efficient market.
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