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Predicting the Next Stock Market ‘Flash Crash’

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Soon after the Great Recession, the U.S. stock markets plunged—and rebounded within 36 minutes.

Why Use Control Charts?

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In everyday language, “in control” and “under control” are synonymous with “in specification.” Requirements have been met. Things are OK. No trouble.

Introducing the AIAG-VDA DFMEA

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During the early 1980s, GM, Ford, and Chrysler established the Automotive Industry Action Group (AIAG), a not-for-profit organization with the mission “To improve its members’ competitiveness through a cooperative effort of North American vehicle manufacturers and th

Déjà Vu All Over Again?

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Recently, I’ve had a sad, increasing sense of déjà vu. Twitter has become even more vacuous, and LinkedIn has quickly devolved into a business version of Facebook.

When Are Instruments Equivalent? Part 3

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In Parts One and Two we defined the equivalence of in

Who Invented the Pareto Chart?

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When I first learned quality improvement back in 1989 at Florida Power and Light, the consultants who trained us taught a very specific way to draw a Pareto chart.

Control Charts and Capability Analysis

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Current business conversation often focuses on data and big data. Data are the raw information from which statistics are created and provide an interpretation and summary of data.

How to Convert ANSI/ASQ Z1.4 Sampling Plans Into Narrow-Limit Gauging Plans

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Anthony Chirico1 describes how narrow-limit gauging (NLG, aka compressed limit plans) can reduce enormously the required sample size, and therefore the inspection cost, of a traditional attribute sampling plan.

One Statistical Paradigm to Rule Them All?

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Now, if you’re familiar with either statistics or J.R.R. Tolkien, I know the title grabbed your attention.

When Are Instruments Equivalent? Part 2

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Last month we provided an operational definition of when measurement systems are equivalent in terms of bias.

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