What is T Test? T test is six sigma comparative method that provides confidence intervals for the manufacturing to make decision. To understand T test, central limit theorem and hypothesis test concept are very important. Central limit theorem If we repeatedly sample from a population and calculate the meaning of each sample, we can […]
Technical analysis is a method of predicting prices by considering charts of market movements for previous periods of time. Under the term “market movement”, analysts understand three main types of information: price, trading volume and open position. For a more comprehensive analysis of price changes, along with fundamental analysis, technical analysis of the market, also
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An XBar and R chart – Range chart study is a statistical quality control chart used to monitor variables of product criteria. It may have a drive a subgroup size of two or more to measure standard chart for variables data. Mostly in automotive industry used widely to determine its process stability and predictions. X
Flowchart is a type of pictorial diagram, which shows each step of work processes and systems in symbolic form with brief description step by step. This chart is called a “flowchart” because of its symbolism, as it shows the direction of flow of processes through symbols. This diagram shows all the steps of the processes
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Pareto chart analysis is statistical methodology to prioritize any task from number of activities that may produce significant overall effect. It is also calls 80/20 rule – Mean focus on 20% prioritized works may give you 80% of the benefits. Actually there is even a mathematical expression for it, which known as the 80/20 rule.
