Tag: #ISO9001
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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…
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Difference Between Equity and Equality: Diversity, Equity and Inclusion (DEI): ISO 30415: 2021
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“Justice has always evoked ideas of equality, of proportion of compensation. In short, justice is another name for liberty, equality and fraternity.”― BR Ambedkar Introduction When twins are born in a family, the general expectation for the parents is that both will have similar choices and tastes. Like they will prefer the same food, music or…
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PDCA Cycle : Diversity, Equity and Inclusion (DEI): ISO 30415: 2021
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“No culture can live, if it attempts to be exclusive.” ― Mahatma Gandhi Introduction We are born with different talents. Some people pick new languages easily, some people have a good knack for mathematics, some people can talk to strangers comfortably, some have inborn leadership qualities, some are afraid of swimming and many can die when…