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Geometric dimensioning and tolerancing (GD&T) is a system for defining and communicating engineering tolerances via a symbolic language on engineering drawings and computer-generated 3D models that describes a physical object's nominal geometry and the permissible variation thereof. GD&T is used to define the nominal (theoretically perfect ...
It was revised by MIL-STD-8A in 1953, which introduced the concept of modern GD&T "Rule 1". [5] [6] Further revisions have continued to add new concepts and address new technology like Computer Aided Design and Model-based definition. A list of revisions follows: [6] ASME Y14.5-2018, "Dimensioning and Tolerancing" Current Standard
Run-out or runout is an inaccuracy of rotating mechanical systems, specifically that the tool or shaft does not rotate exactly in line with the main axis. For example; when drilling , run-out will result in a larger hole than the drill's nominal diameter due to the drill being rotated eccentrically (off axis instead of in line).
Profit margin is an indicator of a company's pricing strategies and how well it controls costs. Differences in competitive strategy and product mix cause the profit margin to vary among different companies. [3] If an investor makes $10 revenue and it cost them $1 to earn it, when they take their cost away they are left with 90% margin. They ...
In metrology and the fields that it serves (such as manufacturing, machining, and engineering), total indicator reading (TIR), also known by the newer name full indicator movement (FIM), is the difference between the maximum and minimum measurements, that is, readings of an indicator, on the planar, cylindrical, or contoured surface of a part ...
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A good operating margin is needed for a company to be able to pay for its fixed costs, such as interest on debt. A higher operating margin means that the company has less financial risk. Operating margin can be considered total revenue from product sales less all costs before adjustment for taxes, dividends to shareholders, and interest on debt.
Price and total revenue have a negative relationship when demand is elastic (price elasticity > 1), which means that increases in price will lead to decreases in total revenue. Price changes will not affect total revenue when the demand is unit elastic (price elasticity = 1). Maximum total revenue is achieved where the elasticity of demand is 1.