Tag: #ISO9001
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SPC: Unilateral Tolerance Capability Indices
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“Toleration has never been the cause of civil war. While on the contrary, persecution has covered the earth with blood and carnage.” – Voltaire Introduction Students aspire to get more than 95%. Patients want to control their blood pressure between 80 to 120. In the Share market, investors always want the prices to go higher…
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SPC: Stoplight Control Chart
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“Life is a journey, take time to appreciate every red, yellow, and green light along the way.” – Unknown Introduction These days we always look for quick results. It could be fast money transfer, ordering food, buying something online, getting high subscribers on YouTube and much more. But the important factor is that the process…
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SPC: Difference Between Goal Post Mentality and Loss Function Analysis
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“Those who ignore Statistics are condemned to reinvent it.” – Brad Efron Introduction When an organization hires GETs (Graduate Engineer Trainees), they set a minimum mark limit (say minimum 65%). The selected candidates may have marks ranging from 65% to 90%. Will there be any difference between the competence of the candidate having 65% marks…
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Why SPC Study Needs to be Conducted?
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“A goal is not always meant to be reached; it often serves simply as something to aim at.” –Bruce Lee Introduction There is always a reason why we do anything. When we choose to eat sweets even though we are planning to reduce weight, there is a certain Why for it. When we wake up…
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SPC: Graphical Interpretation of Control Chart (Mean and Range)
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“It is the mark of a truly intelligent person to be moved by statistics.” — George Bernard Shaw Introduction Graphs are widely used tools in trading and investing to quickly see the past performance of the stock, the highs, the lows, trends, moving averages, trading volume, and much more. These graphs are the ‘footprint of…