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 ...

Acceptance sampling plans and reliability testing constitute fundamental tools for ensuring product quality and performance. These methodologies allow manufacturers and researchers to assess a lot’s ...

Two theorems are presented which are useful in making inferences about the univariate normal distribution. Some applications of the theorems are given. It is thought that the theorems will prove ...

Revision of statistical process control procedures, evaluation of control chart performance and statistical design of charts, control of high quality process, multivariate process control, new process ...

Originating in the 1920s as a sampling scheme for agricultural regulatory inspectors, the square root (Sqrt) of the lot size (N) + 1 was semiformalized in an unpublished report by the Association of ...

Sampling is a technique in which samples are drawn at random (without any favor or bias). For this, suitable measures or procedures may be laid down and adopted according to the nature and ...