Tag: specification
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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 Verification and Validation?
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Share our similarities and celebrate our differences: M. Scott Peck Introduction We interchangeably use the spelling of Principle and Principal assuming as same. Similarly, we often write there instead of their and vice versa. We sometimes use Stress for specifying the mechanical property and also for mental tension! Objective Verification and Validation go hand in…