As the volume and variety of available data continue to proliferate, organizations increasingly turn to analytics in order to enhance business decision-making and ultimately, performance. However, the ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

This paper establishes a criterion that measures approximately the average net income of a process under surveillance of an X̄ chart when the process is subject to random shifts in the process mean.

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

A control chart plots measured values along with upper and lower quality control limits. Values appearing outside these limits are unacceptable and could indicate a manufacturing problem. Although ...

The extent to which products meet specifications needs to be systematically monitored in a production process. Product quality will typically be defined by two quantities: deviations from stated ...

Quality control is a methodology employed in manufacturing to prevent defects in manufactured products. Abbreviated as QC, the method has been implemented in a number of ways each of which has its own ...