Measurements can often be imprecise and subjected to rounding-off. Typically, this rounding-off is ignored and assumed to have little to no effect. However, when the measuring scale step is not ...

Process control charts are an important application of statistical process control (SPC) that are used in the management of processes in various industries with the aim of maintaining consistency, ...

Abstract: Statistical Process Control (SPC) is a statistical method that is often used in process monitoring to minimize the number of product defects and detect process shifts quickly. Univariate and ...

Background The way that data are presented can influence quality and safety initiatives. Time-series charts highlight changes but do not clarify whether data lie outside expected variation.

Abstract: The purpose of this paper is to present how a fuzzy process control chart is constructed for a process with fuzzy outcomes. In this paper, the fuzzy outcomes of the process are due to ...

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 ...