Tag: lcl
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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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What is the key difference between the Specification and Control Limits?
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When the winds of change blow, some people build walls and others build windmills: Chinese Proverb Introduction What is the difference between Success and Joy? Sometimes we use them interchangeably without realizing that there can be some difference. Success is external which is for the outer world. While Joy is internal and is for…
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What is the key difference between the Variable and Attribute Control Chart?
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The difference between you and God is that You have forgotten that YOU are divine: Unknown Introduction There is a difference between a fact and a story. Many times, we entangle ourselves so much into the story that we fail to see the real issue. Like during COVID Pandemic, we are so much enamored…
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What is the key difference between Common and Special Cause?
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The difference between successful people and others is how long they spend time feeling sorry for themselves: Barbara Corcoran Introduction There is a distinct difference between reality and illusion. Reality is a fact like Sunrises from the east and sets in the west direction. The illusion is an imaginary thing that trees are also running…
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What is the key difference between Cp and Cpk?
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There is a big difference between giving up and knowing when enough is enough: Unknown Introduction There is a subtle but key difference between belief and trust. When we have a belief in someone like God, it means we know something about it but we may not have practised it or realized it. But, when…