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Confidence Interval Approximations

What are some of the standard approximations for confidence intervals, and when are they used? First, let’s review the definition of a confidence interval. Confidence Interval: A range of values so defined that there is a specified probability that the value of a parameter lies within it. Example for the most common parameter: the mean. [...]

The Power of a Statistical Test

What is the power of a statistical test and why use it? Power is the probability of making a correct decision (to reject the null hypothesis) when the null hypothesis is false. To determine it, one needs to assume a particular alternative hypothesis. Because power focuses on “making a correct decision” it is natural to [...]

2019-06-16T07:22:02+00:00 By |Tags: , , |0 Comments

Comprehensive Online Guide for Statistical Analysis: NIST Engineering Statistics Handbook

The National Institute of Standards and Technology (NIST) has spent decades developing and maintaining the most comprehensive, free guide for statistical analysis available. While the intended audience is listed as scientists and engineers, the handbook will be of use to anyone having to conduct statistical analysis.   As you can see, the handbook chapters lay [...]

Webinar: Importance of Managing Change in Six Sigma Efforts

ISSSP, the non-profit International Society of Six Sigma Professionals, providing a forum and resources for Lean, Six Sigma, and Operational Excellence practitioners, is proud to announce its June webinar. We are honored to have Lepora Fluornoy, Managing Director of Nextgen People, be our speaker on Wednesday, June 12, 2019. The topic: The Importance of Managing [...]

Integrating Simulation with DMAIC

First, let’s review the objectives of each DMAIC step. D: Define (Establish project purpose and scope, background on process and customer) M: Measure (Quantify existing process performance) A: Analyze (Determine ways to eliminate or reduce the gap between current performance and project goals) I: Improve (Evaluate, select, and implement chosen solution) C: Control (Institutionalize the [...]

Simulation – A Valuable Tool

Discrete Event Simulation can be defined as a mathematical or logical model of a system that portrays that system’s state changes at given points in simulated time. What are some of the benefits of simulation? What If Scenarios Test of potential solutions/what if scenarios without impacting the actual system Waste Identification Determination of process bottlenecks [...]

Simpson’s Paradox: Be Wary of Aggregate Data

Simpson's paradox occurs when a trend appears in several different groups of data but disappears or reverses when the data from these groups are combined. In this video, Guillaume Riesen, currently a Ph.D. student in neuroscience at Stanford University, gives examples of how combining data from two disparate groups can lead to a different and [...]

Quantifying Agreement Among Assessors

How well do your inspectors agree with one another? How well do they agree with a standard? What about people who review documents? How would several reviewers rate the same document? Do they agree with one another? These are just several of the situations where Attribute Agreement would answer these questions. In this simple video, [...]

ISSSP May Webinar: The Drive Toward Digital Operational Excellence

ISSSP, the non-profit International Society of Six Sigma Professionals, providing a forum and resources for Lean, Six Sigma, and Operational Excellence practitioners, is proud to announce its May webinar. We are honored to have Lance Gibbs, Founder and Executive Chairman of BP3 be our speaker on Wednesday, May 8, 2019. The topic: The Drive Toward [...]