Assessing Forecast Accuracy: Be Prepared, Rain or Shine
Apr 28, 2010 · Practitioners can assess the accuracy of forecasts using control charting and analysis of variance (ANOVA). Screening a corporation's forecasts with these two tools will …
Making Sense of Time Series Forecasting - iSixSigma
Jul 31, 2010 · Another potentially confusing element of the linear trend plot is the forecast accuracy measures: MAD, MAPE and MSD. These are used to determine how well the trend …
Improved Forecasting with Moving Averages and Z-scores
Feb 26, 2010 · For short-term forecasting, Black Belts can benefit from analyzing moving average plots and looking for special causes of variation. When making long-term forecasts, a method …
Project ROI: A Key Metric for Project Selection and Resource …
Oct 24, 2024 · The project was forecast at a positive ROI at 3 years and 15% @ 5 years, which secured the investment from the executive board, and the test rig project was authorized. Best …
Repeatability vs. Reproducibility: What’s the Difference?
Feb 4, 2025 · Repeatability vs. reproducibility, do you know the difference? This comprehensive guide takes a closer look at how these metrics differ.
Defects per Opportunity (DPO): Get Context for the Flaws in Your ...
Feb 3, 2025 · What is DPO? Defects per opportunity can be an illuminating calculation for understanding where your processes go wrong in production.
Sigma in Statistical Analysis: What You Need to Know
Feb 18, 2025 · How do you use Sigma in statistical analysis? Get to grips with a calculation that serves as the basis for the Six Sigma methodology.
How to Interpret Prediction Bands in Regression Analysis
Apr 18, 2023 · Because of variation in the data you use for analysis, point estimates are often not reliable enough. That is why it is necessary to account for that variation by using a prediction …
Monitoring Process Performance with X-Bar and R Charts
Oct 25, 2024 · What are X-bar and R charts? Find out how these useful control charts can apply to your statistical analyis.
How To Determine Sample Size, Determining Sample Size
Feb 26, 2010 · Sample Size Calculation Example Problem We would like to start an ISP and need to estimate the average Internet usage of households in one week for our business plan and …