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Statistics – Best Point Estimation
Point estimation involves the use of sample data to calculate a single value (known as…
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Statistics – Range Rule of Thumb
The Range Rule of Thumb says that the range is about four times the standard deviation.…
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Statistics – Quartile Deviation
It depends on the lower quartile Q1Q1 and the upper quartile Q3Q3. The difference Q3−Q1Q3−Q1 is called the inter quartile…
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Statistics – Qualitative Data Vs Quantitative Data
Qualitative Data Qualitative data is a set of information which can not be measured using…
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Statistics – Quadratic Regression Equation
Quadratic regression is deployed to figure out an equation of the parabola which can best…
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Statistics – Process Sigma
Process sigma can be defined using following four steps: 1. Measure opportunities, 2. Measure defects, 3. Calculate yield,…
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Statistics – Process Capability (Cp) & Process Performance (Pp)
Process Capability Process capability can be defined as a measurable property of a process relative…
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Statistics – Probability Density Function
In probability theory, a probability density function (PDF), or density of a continuous random variable,…
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Statistics – Probability Bayes Theorem
One of the most significant developments in the probability field has been the development of…
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Statistics – Probability Multiplicative Theorem
For Independent Events The theorem states that the probability of the simultaneous occurrence of two…